Zero, Inc agreed to build Millie a storage building for $8,000 . After beginning the project, Zero realized that it could not complete the job and make a profit. Zero demanded $9,500 to complete the building. Millie agreed to pay the $9,500 . When the project was complete, Millie tendered $8,000 to Zero for the job. If Zero sues Millie for the remaining $1,500:
a. Zero will win because there was consideration for the additional $1,500.
b. Zero will win because Millie had a pre-existing duty to pay any additional amounts.
c. Zero will lose because there was no legal consideration to support the additional $1,500.
d. Zero will lose because the UCC does not require consideration to modify an existing contract.
c
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A manufacturing company has prepared the operating budget and the cash budget and is now preparing the budgeted balance sheet. The balance of Accounts Receivable can be obtained from the ________.
A) inventory, purchases and cost of goods sold budget B) schedule of cash receipts from customers C) capital expenditures budget D) selling and administrative expenses budget
The right of a partner who is made to pay more than his or her proportionate share of damages
for contract liability may seek: A) An accounting. B) Damages. C) Restitution. D) Indemnification.
The net present value is found by subtracting a project's initial investment from the present value of its cash inflows discounted at a rate equal to the project's internal rate of return
Indicate whether the statement is true or false
The usual sources of capital for investing projects include all of the following EXCEPT:
A) LIBOR. B) Retained Earnings. C) Bank Loans. D) Domestically Marketed Stocks and Bonds.