Kristof entered into a written contract for the purchase of 200 carrots for Sven
ID: 343079 • Letter: K
Question
Kristof entered into a written contract for the purchase of 200 carrots for Sven ($1 each x 200). The day before the carrots were to be delivered, the seller called and said he could not perform.
Kristof, desperate for carrots, hangs up the phone and calls "YOOHOO BIG SUMMER BLOWOUT" guy at Olsen's Trading and buys 200 carrots at a cost of $300.
Discuss the legal issues here:
1. What source of law would the court apply in this case? Why?
2. Explain what breach of contract theory Kristof can assert in his lawsuit?
3. What is the amount of Kristof's damages?
ary distinction between contracts and gifts.
Explanation / Answer
Answer:- In this case, the court can apply the contract of sales as it is related to buying and selling of the product which includes a written contract between the seller and the buyer and it resulted in the economic losses to the buyer due to denial or breach of the contract terms.
Answer:- The main theory which could be implemented to win this case will be the breach of contract incurring the economic losses for the plaintiff. In case of breach of contract theory, if any one or more terms and conditions are breached by either of the party in the contract resulting in economic losses, then the other party has the right to recover the losses incurred due to a breach of contract.
In the case presented, a seller is liable to pay the economic loss which incurred t the buyer due to the non-delivery of the product from the side of the seller.
Answer:-
The damaged that can be recovered would be $100 + any cost associated with the court case. ($300 -$200) = $100. The $100 represents the loss in profits that the buyer incurred since the vendor could not fulfill the order within the terms of the agreement
Answer:- the main difference between the contract and the gift is that if any action is being performed having some conditions, this will be termed as a contract.
For example, if a person gives $100 to other stating that he has to spend this money on buying goods for his family, this will not be termed as a gif as there is a condition applied.
Alternatively, the main difference between the gift and contract is that if the giver expects something in return, it will not be a gift, it is, in fact, a contract.
A gift is something which is given without any conditions and having no expectations in return
I REQUEST YOU TO KINDLY RATE THE ANSWER AS THUMBS UP. THANKS, A LOT.
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.