ABC Siding, Inc manufactures aluminum siding. ABC enters into a contract to deliver siding to Slippery Siding, Ltd., a retailer of aluminum siding. The written agreement insists that all modifications to the agreement be in writing and signed by both parties. This prohibition against oral modifications is
a. valid regardless of whether the clause is signed separately.
b. invalid unless the clause is signed separately by Slippery Siding, Ltd.
c. invalid unless the clause is signed separately by ABC Siding, Inc.
d. invalid unless new consideration is supplied by the parties when the modification agreement is made.
a
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If the indirect method is used, which of the following would be added to net income to arrive at net cash flows from operating activities?
a. Increase in Inventory b. Decrease in Prepaid Expenses c. Decrease in Accounts Payable d. Increase in Accounts Receivable
Updating information in a computerized accounting system happens at the end of the month
Indicate whether the statement is true or false
A contract that does not satisfy the writing requirement of the Article 2 statute of frauds, but which is otherwise valid, is enforceable in which of the following situations?
a. Where the goods have been delivered and accepted. b. Where payment has been accepted. c. Where the goods have been specially manufactured and are not suitable for resale in the ordinary course of business. d. All of these are situations where the contract would be enforceable.
Under Section 9802 of the Harmonized Tariff Schedule, in order to benefit from tariff savings, what condition must imports assembled in a Maquiladora plant satisfy?
a. They were assembled from US-manufactured components. b. They had been exported ready for assembly without further fabrication. c. They have been advanced in value. d. Both a and b