In Crest Ridge Construction V

question 359

Multiple Choice

In Crest Ridge Construction v. Newcourt, where an order for construction materials that Crest Ridge needed was rejected for failure to meet credit terms, and Crest Ridge had to find a higher-cost replacement and sued Newcourt for damages, the appeals court held that:

• A) Crest Ridge had no basis for suit since the credit terms of the contract were clear and it failed to follow the instructions
• B) Crest Ridge had no basis for suit since the credit terms of the contract were clear and it did not have sufficient credit history to qualify
• C) Newcourt was liable as it imposed higher credit conditions on Crest Ridge than it stated were necessary in the contract
• D) Newcourt was liable because, at the last minute. it changed the price it was going to charge, which required Crest Ridge to obtain more credit than it could qualify for
• E) none of the other choices

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Definitions:

Social Enterprise

Organizations that apply commercial strategies to maximize improvements in human and environmental well-being, rather than maximizing profits for shareholders.

Social Business

A type of business model that aims to solve social problems through innovative solutions while being financially self-sustainable.

Charity

An organization set up to provide help and raise money for those in need.

Organizational Capacity

The capabilities, resources, and systems that an organization possesses to effectively achieve its goals and fulfill its mission.