Marilyn Contracted with Bravo Builders to Build an Addition to Her

question 61

Multiple Choice

Marilyn contracted with Bravo Builders to build an addition to her house for $15,000.After digging the foundation,Bravo decides that it will take more work and more concrete than it had originally thought and that it will need to charge an additional $5,000 for the job.Assuming Marilyn agrees,which of the following is correct?

• A) Marilyn will have to pay $20,000.
• B) This is a contract under seal which is enforceable.
• C) This is a modification of a preexisting contract,which under common law must be supported by additional consideration on the part of Bravo Builders.
• D) This is the settlement of a disputed debt that requires no additional consideration on the part of Bravo Builders.

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Definitions:

Safety Stock

Additional inventory held to protect against uncertainties in demand or supply, ensuring sufficient stock is available to meet customer needs.

Service Level

A measure of the quality of service provided, often defined as the percentage of customer demands that are met on time.

Reorder Period

The time interval between placing orders for inventory replenishment to ensure consistent supply without incurring stockouts or excessive holding costs.

Safety Stock

Inventory kept on hand to protect against fluctuations in demand or supply, ensuring that there are sufficient units available to meet customer needs.