For this second part, here is a little FYI - Under the Uniform Commercial Code (which we do not really cover in Business Law I- and which is not a part of our example on page 275), modification of a contract FOR THE SALE OF GOODS (not for services), MAY be acceptable WITHOUT consideration. For example, if there is a shift in the market and the seller (in good faith) asks for a modification (an increase to reflect those costs) and the buyer agrees, no consideration is required. (You do not have to study the Uniform Commercial Code to answer this second question. Just know that this code exists, and that when parties are operating under this code because the contract involves a sale, and all the elements are met, no consideration is required for modification).

a) That said, my question is: Do you PERSONALLY believe that a buyer has an ethical obligation to pay an AGREED UPON increase on a contract, regardless of consideration? Why or Why not? (Remember, this is a personal belief, not a legal one- so you should not use the law to support your answer). So after my lecture on this not being Jay Leno Jaywalking, this time, AFTER you have Discussed the case from the book, here I am looking for your opinion.

b) Is your belief the same for a contract for services? (again, this is a question about ethics and your belief. It is not a legal argument).