In: Economics
18) Nour’s cell phone company sent her a large bill that she disagrees with. Nour can offer an Accord and Satisfaction because
Select one:
a. The debt is unliquidated.
b.
The reasonable person would agree with her.
c.
The debt is liquidated.
d.
She cannot settle the debt until after the company files a
Complaint.
___________
20)
Rancher Rudy purchased five backhoes from Farm Supplies, Inc., but received five handcarts instead. Under Article 2 of the UCC, Rudy
Select one:
a. must inspect the shipment within a reasonable time.
b.
may reject the shipment because he received non-conforming
goods.
c.
must accept the shipment because he accepted delivery.
d.
Both A and B.
________
21)
Jefferson hires Hamilton to build a house. Jefferson specifies he wants red pipes but Hamilton installs blue pipes. Other than the color, there is no difference between the red and blue pipes in either quality or price. Still, Jefferson refuses to pay. Which of the following is true?
Select one:
a. A court will find that Jefferson does not have to pay because Hamilton materially breached the contract.
b. A court will order Jefferson to pay the full price because Hamilton substantially performed the contract, there is no difference in price, and the cost of replacement would be too high.
c. A court will order Hamilton to replace the pipes because he materially breached the contract.
d. A court will require Hamilton to replace the pipes even though they are substantially the same and the cost of replacement would be very high.
__________
We know that an accord and satisfaction is a legal contract whereby two parties agree to discharge a tort claim, contract, or other liability for an amount based on terms that differ from the original amount of the contract or claim.
18). The correct option is (d).
She cannot settle the debt until after the company files a Complaint.
19). The correct option is (d).
Both (a & b) are correct.
UCC means uniform commercial code. Article 2 of the UCC deals with the sale of goods.
20). The correct option is (b).
A court will order Jefferson to pay the full price because Hamilton substantially performed the contract, there is no difference in price, and the cost of replacement would be too high.
The only difference is in colour, the other things as price , quality etc are same so court will conclude that Hamilton has performed the contract and asks Jefferson to pay the full price.
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