Which of the Following Was the Result in the "Case

question 4

Multiple Choice

Which of the following was the result in the "Case Opener" in which Vitol sued Koch Petroleum for delivering oil one day late causing Vitol to sustain a loss based on its sale to another entity?

• A) The court ruled that Koch Petroleum had substantially performed and that Vitol could not recover.
• B) The court ruled that Koch Petroleum had materially performed and that Vitol could not recover.
• C) The court ruled that Koch Petroleum had committed fraud in that the delay was intentional and that Vitol could recover.
• D) The court ruled that Koch Petroleum had violated the perfect tender rule and that Vitol could recover.
• E) The court ruled that both parties were in the wrong and that damages would be split between the two.

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Definitions:

Subsidiary

A company that is controlled by another company, usually referred to as the parent company or holding company.

Listed Company

A company whose shares are traded on a public stock exchange, allowing investors to buy and sell shares.

Retail Industry

The sector of the economy that is composed of individuals and companies engaged in the selling of finished products to end-user consumers.