A and B Agree in Writing That a Will Sell

question 59

Multiple Choice

A and B agree in writing that A will sell to B $5000 in widgets by September 1.On August 28th,B tenders payment of the $5000.00 on A,who refuses to accept it and later refuses to deliver the widgets to B because their value went up after the contract was entered into.In this case,if A sues B for breach of contract and B successfully counterclaims for specific performance

• A)A is in breach of contract and B will only have to pay the $5000.00,but no interest or costs.
• B)by not continuously trying to ensure that A accepts the $5000.00,B is in breach of contract.
• C)A is in breach of contract and B is not bound to do anything more.
• D)the contract is at an end.
• E)none of the above

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Definitions:

Weighted Average

It's a calculation that takes into account the varying degrees of importance of the numbers in a data set, often used in determining the cost of inventory.

Erratic Changes

Unpredictable fluctuations that do not follow a set pattern or trend, often affecting financial markets or economic conditions.

Inventory Cost Method

An accounting technique used to determine the value of a business's inventory and cost of goods sold, such as FIFO (First In, First Out) or LIFO (Last In, First Out) methods.

Net Income

The total profit of a company after all expenses and taxes have been deducted from revenues, indicating financial performance over a specific period.