Fact Pattern 10-1 Lulene Makes the Best Lemon Meringue Pies in Mississippi. So

question 390

Multiple Choice

Fact Pattern 10-1
Lulene makes the best lemon meringue pies in Mississippi. So Ellen, who owns Ellen's Old Fashion Cafe, contracts with Lulene to buy 50 pies per week at the price of $5.00 per pie.
Although Lulene took a class in business law, she forgot to get her agreement with Ellen in writing. Lulene and Ellen agreed during a chat. Lulene said: "I will supply you with lemon meringue pies for however long you want them at $5.00 per pie." Ellen said: "That's great, I'll take them." Both women were pleased.
Soon Lulene had a problem. Between a hurricane in Florida and brush fires in California, the price of lemons increased by 200%. Now, instead of the $5.00 per pie price she intended to charge Ellen, she feels she must charge $7.00 per pie to make a little profit.
Lulene calls Ellen with the bad news and Ellen has a fit. She tells Lulene that's too bad, but the deal is off. Lulene says, "That's what you think!" and goes to see Amanda, her attorney.
-Refer to Fact Pattern 10-1. Assume that when Lulene and Ellen entered into the agreement Ellen was an enterprising 16-year-old. In this case:

• A) Ellen may not void the contract with Lulene because it was a necessity
• B) Ellen may not void the contract, but Lulene may based on minority
• C) Ellen may void the contract based on minority
• D) Lulene may void the contract based on objective insanity
• E) Lulene may void the contract based on impracticality

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Definitions:

Product Units

The quantity of products or goods manufactured, available for sale, or sold, expressed in numerical units.

Distance Learning Technology

Technology-based methods and platforms that enable instruction and education to occur when the teacher and student are not in the same physical location.

New Buy

Refers to a purchasing situation where a buyer acquires a product or service for the first time, involving more research and decision-making effort.

Buying Center Culture

The set of behaviors, beliefs, and values that influence how a company's purchasing decisions are made.