Harold purchased 400 pairs of gloves from Isaac at a contract price of $800 . Fifty of the gloves were defective and a dispute arose as to the amount due and owing under the contract. Harold refuses to pay the $800, and Isaac is threatening to sue. Which of the following is correct with regard to this transaction?
a. If Isaac agrees to accept $600 to settle the dispute and Harold agrees to pay that amount, the agreement is enforceable.
b. If Isaac agrees to accept $600 to settle the dispute and Harold pays that amount, Isaac can still sue for the balance of $200 and will win the lawsuit.
c. Harold is under a pre-existing legal obligation to pay the $800.
d. Two of these but not all three
a
You might also like to view...
Which of the following sources of conflict results from arguments over a piece of data that can be quantified or an event that can be documented?
A. differences over facts B. differences in perception and values C. personalities D. differences over goals and priorities
Which of the following does NOT add cash flows to the parent's free cash flows?
A) royalties B) cannibalization of exports C) overhead management fees D) licensing agreements
Research shows that a lead pay strategy reduces turnover.
Answer the following statement true (T) or false (F)
According to Genichi Taguchi, any deviation from a target value carries with it some level of opportunity loss due to scrap, rework, and customer dissatisfaction
a. True b. False Indicate whether the statement is true or false