CoAx and CableCo have entered into a binding written agreement for CableCo to buy 1,000 feet of coaxial cable for $3 per foot. However, CableCo is building a new warehouse, so they currently don’t have anywhere to store the cable. They have asked CoAx to store the cable in their warehouse until CableCo’s warehouse is completed in three months. CoAx agrees to do so. They store the cable in spools holding 10,000 feet of cable, which are considered finished goods ready to be shipped. They will not physically set aside the 1,000 feet of cable that CableCo ordered, but will denote the quantity as sold in their system so that it cannot be used to fill another order. They have determined that CableCo has assumed risk of ownership,…
The Little Steel Company is a small steel fabricator that makes steel parts for various metal machine shops. When Little receives an order from a client, it must locate and purchase 10 tons of a certain grade of steel to complete the order. Little sends an e-mail message to West Coast Steel Company inquiring into the availability of 10 tons of the described grade of steel. West Coast replies by e-mail that it has available the required 10 tons of steel and quotes $450 per ton. Little replies by e-mail that it will purchase the 10 tons of described steel at the quoted price. The e-mails are signed electronically by Little and West Coast. There is no date set forth in the e-mails for delivery. When the steel arrives, Little rejects shipment, claiming the steel was shipped too late. When West Coast sues Little for breach of contract, Little also raises the defense of the Statute of Frauds. Who wins, and why?…
Jack knew that the china at the sale was worth more than the $150.00 he offered the widow for all of it, bringing him a considerable return on his investment. He knew the price of the china was too good to be true so much that he did not attend any other sales that day. Because the widow gave consideration and her consent to the agreement by accepting Jack’s money for the china, this makes this an enforceable verbal contract. While Jack was paying for his items, the widow told him that she was downsizing because she was moving to an assisted living…
“4. What role does the statute of frauds play in this contract?” (Sean P. Melvin, 2011, p. 155). The statute of frauds would not apply “Under the Uniform Commercial Code would apply to the sale or lease of goods” (Sean P. Melvin, 2011, p. 151). In the scenario, it was a sale for service and requires a signature.…
The amount listed is the enrollment agreement was 10,020.00 which gives a difference of :…
The article that I was read is called, The wild schemes people will use to commit tax fraud, written by Matt Pearce. The article talks about schemes that people use to get out of paying their taxes and crimes commit with tax fraud. The main purpose of this article is to show that tax fraud is a massive problem in the United States and there are consequence to face for committing the crimes.The article starts off by introducing Michael D. Brandner, an Alaskan plastic surgeon with a wife, who filed a divorce. Brandner does not want his wife getting her share of both their money, so he goes to hide it. In 2007, he drove to Central America to cache 4.7 million dollars in a Panama shell corporation. He also went to Costa Rica to store 350,000 dollars in bank accounts.…
Similarly, Statue of Frauds in USA requires that certain sale contracts be in writing to be enforceable. In Esselman v. Production Credit Association , the Minnesota Court of Appeals held that “a collateral promise is not enforceable under the Statute of Frauds unless there is a writing”, but an “original” promise…
I believe that the Statute of Frauds does benefit the people. The statute of frauds provides a protection to parties stating an obligation was made. If there is any dispute, the contract that is in writing, with the signature of both party, helps clear up the conflict. As it was stated in the Point/Counterpoint at the end of Chapter 18, parties who practice the statute of frauds are less likely to enter into an unfair or unclear agreement because they pause and reflect on the contract.…
It is evident that a license is required to manage a professional boxer. The fact that Castillo was not licensed may make the contract voidable not only this, but Castillo ultimately failed to execute the writing requirement which is crucial in this case because, the contract falls under the Statue of Frauds. With the existence of contract laws it is crucial for the employer to be aware of all the laws and theories that surround a contract. In this case Jose Castillo who does not hold a management license, orally agreed to assume Barrera’s management and after Castillo helped Barrera settle a few lawsuits and financial problems Barrera stopped communicating with Castillo. With no surprise this case brings up a lot of issues and legal questions.…
The statutes of limitations, which is the doctrine that set time limit for charging someone with a crime after they commit, is a guarantee that people will be convicted based on the current evidence and sets the norm for officers to deliver justice. It is not fair that someone can sue you based on a story that happened a long time ago. Hence, considering the effectiveness in legal enforcement, fairness for the parties involved and impact on society, I strongly stand against abolishing the statute of limitations on all felonies.…
1. Grand Fabricating Co. and Good Corp. agreed orally that Good would custom manufacture a compressor for Grand at a price of $120,000. After Good completed the work at a cost of $90,000, Grand notified Good that the compressor was no longer needed. Good is holding the compressor and has requested payment from Grand. Good has been unable to resell the compressor for any price. Good incurred storage fees of $2,000. If Grand refuses to pay Good and Good sues Grand, the most Good will be entitled to recover is…
Proprietary education dates back to the late nineteenth century where institutions focused on professional training in teaching, medicine, and law (Breneman, Pusser, &ump; Turner, S., 2000). The 1972 Higher Education Reauthorization Act included for-profit institutions in federal financial aid programs and changed the vernacular of higher education to postsecondary education (2000). This piece of legislation along with new technologies along with increased demand for higher education and prompted a resurgence of for-profit institutions in the latter half of the twentieth century (2000). From these changes, a new era of postsecondary education was born…
Extract from the 3rd Edition of Lacey, Wells and Quick, Reconstructing Criminal Law (CUP 2003) Chapter 4…
Japan has been in a corporate governance dilemma for the past 15 years. The country has…
3. Perfect Timing Pte Ltd agreed to sell a machine to Sosway Pte Ltd at $20000. Delivery was to be on the 1st. However, when the 1st came, Perfect Timing Pte Ltd did not supply the machine to Sosway Pte Ltd and repudiated the contract due to various problems on its end. Sway Pte Ltd had wanted to use the machine for the production process. Thus far it had been using another machine for the production process, but on the eve of the 31st (the day before the delivery of the new machine), the old machine was sold and delivered to a third party. As a result Sosway Pte Ltd’s…