On October 15, Madeleine Contractually Agreed to Sell a Widget

question 37

True/False

On October 15, Madeleine contractually agreed to sell a widget to Hugh.The total price was $20 000.Hugh paid $4000 immediately and promised to pay the remainder upon delivery.Madeleine delivered the widget to Hugh on November 2, as required by the contract.He refused to accept it, however, because its market value had dropped from $20 000 to $10 000.Madeleine is entitled to receive $6000 in expectation damages.

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Definitions:

Transaction

The act of conducting business or commercial exchanges between two parties, involving the transfer of goods, services, or funds.

Direct Marketing

A form of advertising where businesses communicate directly with consumers through various media channels to sell products or services.

Offer

A proposal to sell a specific product or service under specific conditions, which may include price, terms of sale, and delivery details.

Response Rate

The percentage of people who respond to a specific call-to-action in a marketing campaign, survey, or research study.