Majestic Corporation filed its incorporation form with the s…
Majestic Corporation filed its incorporation form with the state. Due to Covid-19, the Secretary of State was not able to stamp the document for many months. In the meantime, Majestic signed a lease for commercial space. Until the incorporation form is stamped, Majestic Corporation is considered a
Read DetailsAsim Plumbers agrees to purchase all of its sump pump requir…
Asim Plumbers agrees to purchase all of its sump pump requirements from Sumner Sump Pump, Inc. These two businesses have had similar agreements the last three years, and Asim’s requirements have averaged 100 sump pumps per year. This year there was an unusually wet spring and Asim’s requirements doubled to 200 sump pumps. Because of the high demand for sump pumps, the market price of the pumps triples. Sumner Sump Pump, Inc., delivers 100 pumps at $75 (the contract price). Sumner has exhausted its inventory and cannot deliver anymore, so Asim buys the other 100 pumps from other suppliers at $225 each. Asim sues Sumner Sump Pump, Inc., for the additional expense. What is the most likely result?
Read DetailsLloyd Company had a contract with Progressive Oil to purchas…
Lloyd Company had a contract with Progressive Oil to purchase 1,000 gallons of oil by December 1. The contract contained a provision that required all modifications to be written and signed by the company presidents. In early September, an executive of LLoyd talked with the purchasing agent of Progressive who orally agreed to provide 1,000 more gallons of oil by December 1. On December 1, when only 1,000 gallons had been delivered, LLoyd sued. The likely outcome of this lawsuit is
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