MGMT 0130 Lecture Notes - Lecture 15: Rescission
10 Feb 2013
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Pym had an idea for an invention. Campbell agreed to purchase a share of that invention, but only if it was approved within one week by two specific engineers, who were independent of the parties. One of the engineers gave his approval, but the other, who was on vacation, did not. Pym nevertheless claimed that campbell was required to proceed with the anticipated purchase. Which of the following statements is most likely. Pym"s argument will fail because the contract was subject to a condition precedent that was not satisfied. Svetlana, a carpenter, agreed to make one hundred maple bats for dexter, a professional baseball player. The total price of 000 was to be paid one week after delivery of the bats. When svetlana delivered the bats to dexter, he noticed that they were made out of wood from pine trees, rather than maple trees.
