Zero, Inc. agreed to build Millie a storage building for $8,000. After beginning the project. Zero...
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Zero, Inc. agreed to build Millie a storage building for $8,000. After beginning the project. Zero realized that it could not complete the job and make a profit. Zero demanded $9.500 to complete the building. Millie agreed to pay the $9,500. When the project was complete, Millie tendered $8,000 to Zero for the job. Absent contractual language stating otherwise, if Zero sues Millie for the remaining $1,500: O Zero will win because there was consideration for the additional $1.500. O Zero will lose because there was no legal consideration to support the additional $1.500. O Zero will lose because the UCC does not require consideration to modify an existing contract. O Zero will win because Millie had a pre-existing duty to pay any additional amounts. Zero, Inc. agreed to build Millie a storage building for $8,000. After beginning the project. Zero realized that it could not complete the job and make a profit. Zero demanded $9.500 to complete the building. Millie agreed to pay the $9,500. When the project was complete, Millie tendered $8,000 to Zero for the job. Absent contractual language stating otherwise, if Zero sues Millie for the remaining $1,500: O Zero will win because there was consideration for the additional $1.500. O Zero will lose because there was no legal consideration to support the additional $1.500. O Zero will lose because the UCC does not require consideration to modify an existing contract. O Zero will win because Millie had a pre-existing duty to pay any additional amounts.
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Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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