You and your partner will imagine a situation in which your business has entered into a contract
Question:
You and your partner will imagine a situation in which your business has entered into a contract with a supplier or a customer, and the supplier/customer has breached the contract. Please answer the following questions in writing in your web page:
Note: "Our business is about Toys for Children."
- Describe the breach of contract. Your answer should identify:
a. What the contract is about - be specific:
--- the packaging delivery from a supplier that will produce another contract to the customer
b. How the contract has been breached- be specific (2 marks)
-- did not deliver the packaging for our toys on time.
2. Explain whether your claim would be for breach of a condition or breach of a warranty. In your answer, explain the difference between a condition and a warranty and why this is important.(3 marks)
3. If you were to sue for breach of contract, what remedy/remedies would you seek? Be specific and explain each remedy.(2 marks) = We will choose a compensatorydamages
4. If you wanted to avoid litigation, what other form of dispute resolution could you use to resolve your issue with your supplier/customer? Identify an appropriate dispute resolution process and give 2 reasons why you have chosen this process. (3 marks) --- negotiation
Please answer all the questions. as you can see some has answers already but please explain it further.
Intermediate Accounting
ISBN: 978-0324592375
17th Edition
Authors: James D. Stice, Earl K. Stice, Fred Skousen