William agrees to drill a well up to 200-feet deep for John's rural cabin. The contract price is $3,000 . After drilling 100 feet, William strikes solid granite rock. He talks to John and explains that this is highly unusual for the area and could not have been anticipated at the time of entering into the contract. He offers to get a special drill, but says it will cost him more money, so that he
will be unable to complete the project for the agreed price. Because John is anxious to have the well, he agrees to pay William an additional $1,000 to complete the job. However, once the well is finished, he changes his mind and now says he will pay only the originally agreed-upon amount. What is the result?
a. The parties have agreed to a substitute contract which discharges the original contract. John is obligated to pay the additional $1,000.
b. The agreement for $4,000 is binding because of provisions of the UCC.
c. William is in breach of contract. John need not pay any additional money.
d. William is under a pre-existing moral duty to perform at the originally agreed-upon price.
a
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A) ?Purchased identifiable intangible assets with finite life B) ?Research and development costs C) ?Purchased identifiable intangible assets with indefinite life D) ?Unidentifiable intangible assets
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Fill in the blank(s) with the appropriate word(s).
Individuals with deep interest in and who truly care about what they do and also care about helping others are using which characteristics of authentic leadership?
A. compassion and heart B. relationship and purpose C. heart and connectedness D. self-discipline and passion
In cost-plus contracts, a predetermined amount of profit is added to the cost of the contract
Indicate whether the statement is true or false