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BUSA 690 (31)
Lecture 17

lecture 17.docx

2 Pages

Business Admin
Course Code
BUSA 690
Peter Younkin

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- On June 1, Lauto Inc contractually agreed to buy a Pupmobile LX from Dos Motors Ltd for $25 000. Payment of the price and delivery of an appropriate vehicle were scheduled to occur on July 15. On July 1, however, Dos informed Lauto that it had carelessly crushed its only Pupmobile LX with an industrial-sized garbage bin. Dos apologized profusely and explained that it did not have another one in stock. It also informed Lauto that, because a Pupmobile LX had recently appeared in a highly successful movie, such cars were in great demand. "If you still want one," said the manager at Dos, "you had better act quickly. I'll expect that they will start to go up in value very quickly." Between July 1 and July 10, Lauto could have agreed to purchase a Pupmobile LX from another dealer for $30 000. Nevertheless, Lauto waited until July 11 before buying a Pupmobile LX from Tertius Motors Ltd for $35 000. By July 15, the market value of such vehicles had increased to $40 000. A court would probably order Dos to pay Lauto  $5000 - Dave was contractually required to deliver a widget to Pam by July 1. He failed to do so. At that point, Pam predicted that she would suffer a loss of $100 000 during the next six months because her factory cannot operate efficiently without a widget. Which of the following statements is TRUE?  none of the above - Alexi agreed to sell a particular type of car to Carole for $15 000. He breached the contract by refusing to deliver the car and complete the sale. She bought another car of the same type from Ivan for $18 000. These facts most clearly illustrate the concept of  Mitigation - Shinji contractually agreed to record a concert for Keith. The concert was to occur on November 8 and Keith was to pay a price of $10 000 on the same day. On October 15, Shinji informed Keith that he would not be able to record the concert. On November 2, Keith entered into a contract with his good friend, Manfred. Under the terms of that agreement, Manfred was required to record the concert on November 8 and Keith was required to pay $25 000. The evidence indicates that Keith could have easily hired someone other than Manfred for $17 000. Which of the following statements is TRUE? A court would probably order Shinji to pay Keith  $7000 - Sammy Productions Inc wanted to hold an open-air concert on September 30. On February 1, it entered into a contract with Maxine, a wealthy landowner. Under the terms of that agreement, Maxine agreed to let the concert be held o
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