10All-Rite Clothiers, Inc, sells tshirts to Brand Name Stores, Inc, under an exi
ID: 2800299 • Letter: 1
Question
10All-Rite Clothiers, Inc, sells tshirts to Brand Name Stores, Inc, under an existing contract. When textile costs increase, Brand agrees to a price increase, but later wants to cancel the contract. Brand may a. cancel the contract immediately b. cancel the contract only after accepting a final shipment. c. cancel the contract only on reasonable notice. d. not cancel the contract, the contract was made in good faith Recreational Supplies, Inc. (RSI), and Sam, the owner of aTourist Time shop orally agree to a sale of beach balls and seashells for $1,000. Sam gives RSI a check for 11 “ a. enforceable to the extent paid, $400. b. fully enforceable. c. fully enforceable because it is oral. d. not enforceable. 12. Tasty Pastries, Inc., and other bakers refer to a "baker's dozen" as consisting of a ' collection of thirteen baked goods. This is an example of a. interpretation of a document against the drafter. b. course of performance. c. square dealing d. usage of trade or custom. 13. Blend Juice Company contracts to buy a fruit crop from Citrus Farms. Title to the fruit can pass from Citrus to Blend: a. when the goods arrive on an F.O.B destination contract. b. when the goods are shipped on an F.O.B. shipment contract. c. when the contract is entered into. d. all of the above. 14. Dick steals Eve's necklace and sells it to Fiona. Eve can recover the necklace from Fiona a. only if Fiona did not know that the necklace was stolen. b. only if Fiona gave legally sufficient consideration for the necklace. c. only if Fiona knew that the necklace was stolen. d. under any circumstances, Eve is the true owner.Explanation / Answer
10.
All Rite Clothiers, Inc., sells t-shirts to Brand Name Stores, Inc., under an existing contract. When textile costs increase, Brand agrees to a price increase, but later wants to cancel the contract. Brand cannot cancel the order because he is an existing customer and he already agrees to increase price. the contract was made in good faith.
Option (D) is corrrect answer.
11.
Recreation Supplies, Inc. (RSI), and Sam, the owner of a Tourist Time shop, orally agree to a sale of beach balls and seashells for $1,000. Sam gives RSI a check for $400 as a partial payment. This contract is enforceable to the extent of $400.
Option (A) is correct answer.
12.
Tasty Pastries, Inc., and other bakers refer to a "baker's dozen" as consisting of a collection of thirteen baked goods. This is an example of Usage of trade or custom.
Option (D) is correct answer.
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