Question: U.C.C. Section 2-306: Supplementary Problem The Sutton Fruit Farm agrees to sell to the Gluckow Cannery all of your requirements of apples, peaches, and pumpkins

  1. U.C.C. Section 2-306: Supplementary Problem

The Sutton Fruit Farm agrees to sell to the Gluckow Cannery "all of your requirements of apples, peaches, and pumpkins during the period of a five year contract, with an option on the part of Gluckow for an additional year.

The following amounts (in tons) were demanded by Gluckow:

2016: 22,000

2017: 23,000

2018: 24,500

2019: 27,500

2020: 29,000

In 2021, the price of fruit skyrockets as a deep frost his Florida in the spring of 2021. So, Gluckow now demands 50,000 tons at the favorable contract price. Will Sutton be required to turn over the 50,000 tons to Gluckow? Would it be helpful to your answer if you found that Gluckow had told Sutton that he "estimated" that "I probably will be asking for around 32,000 tons in 2021"?

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 Accounting Questions!