ABC Corporation sends XYZ Ltd. a purchase order for $100,000 worth of goat cheese. The purchase order
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Question:
ABC Corporation sends XYZ Ltd. a purchase order for $100,000 worth of goat cheese. The purchase order contains numerous terms and conditions. XYZ sends ABC an acknowledgment form with XYZ’s terms and conditions. XYZ’s form provides for arbitration if there is a dispute, and limits XYZ’s liability to $50,000. As a result, the parties’ terms and conditions conflict. This is a two part question.
What is the common legal term for this situation? ___________________________________
Assuming both ABC and XYZ are located in Maryland, what section of the UCC can provide an answer to what terms apply (generic UCC citation is enough): ________________________
Related Book For
Financial and Managerial Accounting
ISBN: 978-0132497978
3rd Edition
Authors: Horngren, Harrison, Oliver
Posted Date: