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
You might also like to view...
Describe the five major pricing objectives discussed in the text
What will be an ideal response?
When testing cash balances at the balance sheet date, the auditor foots the bank reconciliation and traces its reported book balance to the trial balance and its bank balance to the standard confirmation. Which of the following assertions is being tested with these procedures?
a. Rights. b. Valuation. c. Existence. d. All of the above.
Marla owns a bridal salon. She has an overstock of last season’s gowns and needs to make room for this season’s dresses by the time she goes to market. Marla decides to hold a sale to liquidate the old bridal gowns. The best way for her to get the word out about the sale is to use which kind of communication?
A. electronic B. nonverbal C. oral D. written
An expense account is normally closed by debiting Income Summary and crediting the expense account.
Answer the following statement true (T) or false (F)