McCann Construction purchased a poured concrete form from Advance Concrete Forms, Inc McCann purchased the concrete form by placing a phone call to Advance in Madison, Wisconsin. Advance delivered the concrete form with an invoice stating the terms of
the sale required payment within 30 days and a 1 1/2 % interest per month finance charge would be charged on accounts over 30 days. When McCann failed to pay the invoice on time, interest was charged according to this rate. Later, McCann refused to pay the accumulated interest charge, claiming there was not a meeting of the minds regarding the finance charge in any conversation prior to the sale. The trial court concluded that the finance charge was in fact an additional term added by Advance when it accepted McCann's purchase order. Discuss Uniform Commercial Code Section 2-207 in general and with regard to this situation. Does McCann owe the interest accrued?
Yes, he does. The big change brought about by UCC 2-207 is this: An offeree who accepts may include in the acceptance terms that are additional to or different from those in the offer. It says that for the sale of goods, an additional term will often become part of the contract.
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Which of the following holds true for a general partnership where there is no partnership agreement varying the usual provisions of partnership law?
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Office Plus, an office supply store, ordered 600 blank CDs from Curtis Co, a manufacturer of computer products. Office Plus placed the order using a preprinted purchase order form; Curtis acknowledged the order by sending a preprinted acceptance form back to Office Plus. Unlike Office Plus' form, which says nothing about packaging, Curtis's form specifies that the CDs will be packaged in cases of
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What is it prediction of the CAPM with respect to the expected return on any security?
What will be an ideal response?