Kelly runs a restaurant on State Street and enters into a deal with Ray for him...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Kelly runs a restaurant on State Street and enters into a deal with Ray for him to deliver fresh eggs and milk once a week. The parties agree on a price of $50 per delivery, plus the cost of food and sign a written agreement with each other that day. Recently, the cost of eggs has increased 10%, so Ray approached Kelly to request a 10% increase under the contract. Kelly agreed to this change. The next week, Ray delivered eggs and milk to Kelly's restaurant, but Kelly refused to pay the increase. If Ray sues, what would be his best argument? Kelly runs a restaurant on State Street and enters into a deal with Ray for him to deliver fresh eggs and milk once a week. The parties agree on a price of $50 per delivery, plus the cost of food and sign a written agreement with each other that day. Recently, the cost of eggs has increased 10%, so Ray approached Kelly to request a 10% increase under the contract. Kelly agreed to this change. The next week, Ray delivered eggs and milk to Kelly's restaurant, but Kelly refused to pay the increase. If Ray sues, what would be his best argument?
Expert Answer:
Answer rating: 100% (QA)
Rays best argument in this case would be that he and Kelly entered into a valid and enforceable cont... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
You are the assistant vice president in charge of production for a firm that produces computers. Your firm's production function is f(L,K) = min (L,K) Where L and K are the quantities of the two...
-
Find the number of ways that 6 teachers can be assigned to 4 sections of an introductory psychology course if no teacher is assigned to more than one section.
-
Use the data in Exercise 2 to compute the correlation between the number of days after the opening of the movie and the number of theaters showing the movie. Is the association positive or negative?...
-
The trial balance of Kind Care Child Care, Inc., does not balance. The following errors are detected: a. Cash is understated by \($2,000\). b. A \($1,000\) debit to Accounts receivable was posted as...
-
Prepare a cash budget for Atlas Products, Inc., for the first quarter of 2006, based on the following information. The budgeting section of the corporate finance department of Atlas Products has...
-
How can leaders leverage technology and data analytics to enhance transparency, accountability, and integrity in organizational processes, such as financial reporting, supply chain management, and...
-
Is the mean or the median more likely to provide a better measure of typical sales revenue for companies included in the Fortune 500?
-
CASE: BE TRUE TO THYSELF, CHANNELMASTER As a true channelmaster, you firmly believe in being truthful to your distributors even when the news is not favorable. But recently, your company an old-line,...
-
why is the inflow of cash from receiving dividends is considered an operating activity while the outflow of cash from paying dividends to stockholders is considered a financing activity. why aren't...
-
3. The springs (k25 lb/ft) are un- stretched when s = 0. The 50-lb weight is released from rest in the position s = 0. (a) (b) When the weight has fallen 1 ft, how much work has been done on it by...
-
what are the advantages of dual model as per ASC 8 4 2 leases . How is 8 4 2 dual model is better than IFRS 1 6
-
What ways does the unreliable narrator serve as a narrative device to challenge traditional notions of truth and reality in contemporary fiction ?
-
The requirements specify which entities and data are important to the business. Here are the requirements for this database. manager monitors employee data: e mployee name, salary, and addresses...
-
Questions: What is the distinction between belongings and liabilities? What are the exceptional forms of accounting transactions? What is the cause of a balance sheet? What is the reason of an...
-
Swifty company is a publicly held corporation whose $1 par value stock is actively traded at $30 per share. The company issued 3400 shares of stock to acquire land recently advertised at $93000. When...
-
P6-7 You are given the following details for the year ended December 31, 2013: Additional information: 1. Grantham owns 80% of the common shares in Lopez and 20% of the common shares in Ceylon...
-
When a company that has the Canadian dollar as the functional currency transacts in Canadian dollars with a U.S. company, would this be a foreign currency transaction? Why or why not?
-
The United Football League (UFL), a North American professional football league, has been in work stoppage since July 1, 2013, immediately after the six-week training camp ended. Faced with stalled...
-
Figure P18-39 shows two similar unit pulse waveforms. The only difference is that the first pulse is positive from \(-T / 2\) to \(T / 2\), while the second pulse goes from \(+\mathrm{A}\) to...
-
Describe the principal types of audits performed by independent auditors and indicate the established criteria and primary users of each tyr
-
Contrast the activities of independent, internal, and governmental auditors.
Study smarter with the SolutionInn App