Question: Newlog, which had developed a new process for making artificial logs, entered into an oral contract with Specialty Manufacturing. The contract provided that Specialty would

Newlog, which had developed a new process for making artificial logs, entered into an oral contract with Specialty Manufacturing. The contract provided that Specialty would manufacture a special part that Newlog needed to make its artificial log machinery. The contract provided that Specialty would make the part to Newlog's specifications. Newlog orally agreed to pay $5,000 for the part. Specialty made the part to Newlog's specifications, but Newlog refused to pay, claiming that the oral contract was unenforceable because of the statute of frauds. Is Newlog correct?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Question 2: Fake Steak which had developed a new process for making plant-based meat substitutes, entered into an oral contract with Specialty Manufacturing. The contract provided that Specialty...

1. Drawing on your knowledge of the PESTEL model , analyse the external environment facing the pharmaceutical industry and identify the key external factors which impact on the company. (Case Study...

1. Using examples from the case study critically examine the 5 forces which establish the rivalry in the global pharmaceutical industry. 2. Using examples from the case study critically examine the...

Research Paper: Topic: Why did the traditional financial risk approaches, methods, and tools fail in the financial market meltdown of 2008 - 2009? Discuss questions DQ #1: How has fair value...

1. Do you agree or disagree with the decision in the Lambert case (p. 323, textbook). Explain by making EXPLICIT reference to any of the principles of Contract Law (say which one(s) you are using)...

Case Study STRIDES ARCOLAB LIMITED'S DIVIDEND PAY-OUTDECISION: THE CASE IS BELOW, On December 10, 2013, Arun Kumar, founder and group chief executive officer of Strides Arcolab Limited (Strides) a...

Please provide detailed explainations for methods, Analysis and results and recommendations and conslusions. Thank you. VF Brands: Global Supply Chain Strategy It was August 2009. Chris Fraser,...

Walter Construction Group Lid v CPL (Surry Hills) Ply Lid [2003] Adj-L.R. 04/09 JUDGMENT : Nicholas J : Supreme Court of New South Wales : 9" April 2003. 1 By Its Notice of Motion the Plaintiff seeks...

Review the information in the textbook about grieving and prolonged grief. Include a discussion about the importance of a persons ability to talk to someone who has experienced the death of a loved...

Fill in the following table of values: 6 4 3 23 6 tan sec

8. What is the mission of the IASB?

As the manager of Smith Construction, you need to make a decision on the number of homes to build in a new residential area where you are the only builder. Unfortunately, you must build the homes...