L.D.T. International Sales Corp. (L.D.T.), an American firm, contracted to sell 100,000 pounds of "US Fresh Frozen Chicken, Grade A, Government Inspected" to Freight Importing Co. (Freight), a Swiss company. When L.D.T. asked Freight what kind of chickens were wanted, Freight said "any kind of chickens." L.D.T. also asked whether the term "chicken" included the German word "Huhn", which includes both older stewing
and younger broiling and frying chickens. In response, Freight answered yes. Show
Kapoor owned property in North Carolina and listed the property for sale on August 4th. That same day, Nolan made an offer to purchase the property. The offer included the following language: "OFFER CLOSING DATE: Time is of the essence, therefore this offer must be accepted on or before 5:00 p.m. August 5th." Kapoor received the offer,
signed it, but also made several changes to the terms. These included an increase in the initial deposit, an increase in the down payment due, and a decrease in the term of the loan from the seller from 25 to 20 years. On the evening of August 4th, Nolan received the modified document but neither accepted nor rejected its terms. An offer can
terminate automatically when the period of time specified in the offer has passed. In this case, Nolan made an offer that automatically terminated at 5:00pm on August 5th. Before the offer automatically terminated, Kapoor replied to Nolan with changes in the terms of the offer. This constitutes a counteroffer of the original offer. Identifying the Facts and Issues Harold offers to sell Emma his farmland in Bryson County. After discussing the sale at length in front of their friends Nicole and Jackson, Harold and Emma orally agree on a price of $120,000 for the land. The next day, Emma goes to the bank and withdraws $120,000 to pay Harold for the land. When Emma presents the $120,000 to Harold, Harold tells Emma he was just joking and does not wish to sell the land. Emma tries to enforce the deal, and Harold continues to refuse by saying that the deal was not in writing, and, therefore, it is unenforceable. The contract between Harold and Emma for the sale of the land: Identifying the Facts and Issues What If the Facts Were Different? Jordynne was the manager of Pets-R-Us, a pet store in Southern Valley Mall. Pets-R-Us had a one-year lease, and rent payments were $2,000.00 per month. Five months into the lease, Jordynne found a better site for the pet store. She notified Southern's manager, vacated the mall, and moved her store to its new location. After two months, Southern was able to re-lease the premises to another retail store, but at a reduced rent of $1,800.00 per month. If Southern successfully sues Pets-R-Us, Southern will likely receive: Sets with similar termsWhat type of contract exists when at least one party has the option of cancel it?A voidable contract is one that can be canceled or altered for qualified legal reasons. Not all contracts are voidable; legal precedent must exist to absolve responsibility.
When a party to a contract does not perform as required there is quizlet?When a party to a contract does not perform as required, there is a breach of contract. If one party prevents or hinders the other party to a contract from performing her duties, then a breach occurs.
What do you think would happen if the owner tried to cancel the contract and get the fiddle back?What do you think would happen if the owner tried to cancel the contract and get the fiddle back? Mistake of value is not a valid defense to a contract, so the owner could not get his fiddle back.
Which of the following elements can help one avoid the resulting contract when both parties to a contract are mistaken?If both parties are mistaken about a material fact, such as the identity of the subject matter, either party can avoid the contract. If the mistake relates to the value or quality of the subject matter, either party can enforce the contract.
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