Sharon (buyer) made contract with Jane (shirtmaker) for 1,000 shirts. After getting the first 500 and...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Sharon (buyer) made contract with Jane (shirtmaker) for 1,000 shirts. After getting the first 500 and paying for them, Buyer said "no more." Jane made the rest of the shirts anyway, and then sued for the selling price. Analysis: C/L or UCC? Presume Shirts contract price is $10.00 each and the cost to make each shirt is $7.00. What is total profit Jane would have received on this contract? Did Jane mitigate damages ("shut off the hose")? Should/could she have mitigated damages? Is it fair to make Buyer pay cost plus the profit if the Seller the cost on the last 500 shirts? could have avoided Sharon (buyer) made contract with Jane (shirtmaker) for 1,000 shirts. After getting the first 500 and paying for them, Buyer said "no more." Jane made the rest of the shirts anyway, and then sued for the selling price. Analysis: C/L or UCC? Presume Shirts contract price is $10.00 each and the cost to make each shirt is $7.00. What is total profit Jane would have received on this contract? Did Jane mitigate damages ("shut off the hose")? Should/could she have mitigated damages? Is it fair to make Buyer pay cost plus the profit if the Seller the cost on the last 500 shirts? could have avoided
Expert Answer:
Answer rating: 100% (QA)
Based on the information provided it appears that the contract between Sharon buyer and Jane shirtma... View the full answer
Related Book For
Project Management The Managerial Process
ISBN: 9781260570434
8th Edition
Authors: Eric W Larson, Clifford F. Gray
Posted Date:
Students also viewed these law 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...
-
Read the case study "Southwest Airlines," found in Part 2 of your textbook. Review the "Guide to Case Analysis" found on pp. CA1 - CA11 of your textbook. (This guide follows the last case in the...
-
1) Identify the population and sample from the following statements: a) A survey conducted at NSU has found that out of 371 students, 52 are left-handed b) In a rescue shelter, the height and weight...
-
Weighted-average method, spoilage. The Boston Company is a food-processing company based in San Francisco. It operates under the weighted-average method of process costing and has two departments:...
-
What are the possible benefits of administering questionnaires electronically?
-
Quilts R Us (QRU) is considering investing in a new patterning attachment with the cash flow profile shown in the table below. QRU's MARR is 13.5 percent/year. a. What is the internal rate of return...
-
N-Hexane is used to extract oil from soybeans. The solid residue from the extraction unit, which contains 0.78 kg liquid hexane/kg dry solids, is contacted in a dryer with nitrogen that enters at...
-
5. Consider uniform, inviscid, supersonic flow exhausting from a rocket engine nozzle. For fixed back pressure p (i.e., the ambient pressure outside the nozzle), qualitatively draw the first few wave...
-
Acme Parts runs a small factory and employs workers who are paid one of three hourly rates depending on their shift: first shift, $17 per hour; second shift, $18.50 per hour; third shift, $22 per...
-
The human heart creates the body's largest electromagnetic field. During normal beating, an electrocardiogram measures a voltage of 2.7 mV between two electrical contact pads on the chest that are...
-
EasyDelivery Corporation purchased equipment on July 18 of Year 6 for $500,000. The estimated useful life is 8 years, and the residual value is $50,000. On March 24 of Year 12, they sold the...
-
Facebook Corp inventory on account for 7,000 shipping point, terms 2/10n30 Facebook paid a third party 400 for the shipping of this inventory If Facebook pays its days what the net balance in the...
-
If an investor is receiving $75,000 in investment for 20 percent of the company, what is the company's post-money valuation? Show your calculations.
-
The Woodward Company acquired a patent on January 2nd for $125,000. The patent has a remaining legal life of 15 years, but Woodward expects to receive benefits from the patent for only 5 years. What...
-
XYZ company's gross profit margin is 50% and its net profit margin is 5%. The company recently introduces lean manufacturing technique and increase efficiency in operation. If they can significantly...
-
True or false, and explain with the aid of a diagram: If a generic medicine is an inferior good, then an increase in....the price will cause the demand curve for generic medicine to shift to the left.
-
1. Firms may hold financial assets to earn returns. How the firm would classify financial assets? What treatment will such financial assets get in the financial statements in accordance with US GAAP...
-
What similarities do you see between the Ford Diesel team and the Mac team at Apple and the Skunk Works at Lockheed?
-
Do you agree that geeks are different from other workers?
-
Garth Hudson was a 29-year-old graduate of Eastern State University (ESU) with a BS degree in management information systems. After graduation he worked for seven years at Bluegrass Systems in...
-
KK Pty Ltd is a small manufacturing business. For the year ending 30 June 2019, the company achieved sales of $2 772 000 and a gross profit margin of 30%. Although satisfied with this result,...
-
The following actual balance sheet was prepared for Colombo Clocks Ltd as at 31 March 2020. At 31 March you are also provided with the following information. 1. Sales forecasts available for 2020:...
-
Fab and Fast Ltd buys and sells motor vehicle accessories. The firms estimated sales and expenses for the first 4 months of 2020 are shown below. Actual sales for December 2019 were $900 000 and...
Study smarter with the SolutionInn App