Price's Department Store Contracted to Buy 1,000 Drop-Waist Velour Dresses

question 14

Multiple Choice

Price's Department Store contracted to buy 1,000 drop-waist velour dresses in heather gray from TriColor.Subsequently,TriColor called and asked to ship mink-colored dresses instead of heather gray.Price agreed,in writing,to the change.Which statement is correct?

• A)The modification is not enforceable since there was no consideration for the change.
• B)The modification is not enforceable since the parties are merchants.
• C)The modification is enforceable.
• D)Whether the modification is enforceable depends on the gap-filler rule.

---

Definitions:

Sarbanes-Oxley Act

A United States federal law that set new or enhanced standards for all U.S. public company boards, management, and public accounting firms.

Auditing Function

The process of examining and verifying a company's financial statements and records to ensure accuracy and compliance with accounting standards.

Employee Pension Plan

A retirement savings program sponsored by an employer which provides income to employees after they retire.

Physical Location

The actual and geographical site or place of an entity such as a business, event, or activity.