Law for Business /Chapter 9-12/
Khosbayar Ganbold
Kurt S.Odenwald
MGMT 56060
6/10/13
Assignment for week three
Question 8 /Chapter 9/
Industry custom cannot supply a term of an implied contract and Varni bros Distributor Company could not win in this case because there was no contract between these two partners regarding how long the arrangement would last and only have an agreement that based on shaking hand. There should have a contract include terms of both parties that how long they would be partner, condition of supply, and term of transportation.
Question 5 /Chapter 10/
There was no contract between Monsanto and Major Mat/ MM/. MM did not tell truth to Monsanto because they thought that Monsanto would take all of their order. According to courts created the basic formula that Offer plus Acceptance equal Agreement, there could be offer that several orders, but MM refuse to say that what the company was doing so that Monsanto did not accept the offer. Thus there was no contract between two companies.
Question 10 /Chapter 10/
It was contract based on term in the catalogue because there was offer that $1000 scholarship per year by the University of Mississippi /UM/ to future student who meet their requirements including 26-27 scores ACT, GPA of 90 percent or higher and specific thing is that there was deadline for this offer that admitted by April 1, 1997 so that the University of Mississippi is an offeror in the case. Aronson is an offeree who filled up the school’s application by accepting the offer. However, there was contract between the UM and Aronson, he cannot get $4000 scholarship because there was deadline in April 1, 1997 for the term as $1000 scholarship per year.
Question 1 /Chapter 11/ There are a promise and an act in both unilateral and bilateral contracts. In unilateral contract, only one of two parties makes the promise; when other one do the act in order to take the promise, while in bilateral contract, they both make the promise for each other’s perform. If
Kurt S.Odenwald
MGMT 56060
6/10/13
Assignment for week three
Question 8 /Chapter 9/
Industry custom cannot supply a term of an implied contract and Varni bros Distributor Company could not win in this case because there was no contract between these two partners regarding how long the arrangement would last and only have an agreement that based on shaking hand. There should have a contract include terms of both parties that how long they would be partner, condition of supply, and term of transportation.
Question 5 /Chapter 10/
There was no contract between Monsanto and Major Mat/ MM/. MM did not tell truth to Monsanto because they thought that Monsanto would take all of their order. According to courts created the basic formula that Offer plus Acceptance equal Agreement, there could be offer that several orders, but MM refuse to say that what the company was doing so that Monsanto did not accept the offer. Thus there was no contract between two companies.
Question 10 /Chapter 10/
It was contract based on term in the catalogue because there was offer that $1000 scholarship per year by the University of Mississippi /UM/ to future student who meet their requirements including 26-27 scores ACT, GPA of 90 percent or higher and specific thing is that there was deadline for this offer that admitted by April 1, 1997 so that the University of Mississippi is an offeror in the case. Aronson is an offeree who filled up the school’s application by accepting the offer. However, there was contract between the UM and Aronson, he cannot get $4000 scholarship because there was deadline in April 1, 1997 for the term as $1000 scholarship per year.
Question 1 /Chapter 11/ There are a promise and an act in both unilateral and bilateral contracts. In unilateral contract, only one of two parties makes the promise; when other one do the act in order to take the promise, while in bilateral contract, they both make the promise for each other’s perform. If