X and Y Have a Contract,which Obligated X to Sell

question 45

Multiple Choice

X and Y have a contract,which obligated X to sell Y 100 boxes of screws for $100.The parties orally modify the contract so that X will sell Y the same 100 boxes of screws for $125.The second agreement is:

• A)binding because it is due to unforeseeable situation.
• B)binding by virtue of being mutually agreed on.
• C)not binding because it is an outputs contract.
• D)not binding due to the promise of performing a preexisting legal obligation.

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Definitions:

Y-variable

In statistical modeling and experiments, the dependent variable that is influenced or predicted by another variable (X-variable), used to measure outcomes or results.

Opposite Directions

A term indicating movements or trends that are diametrically contrary to each other in a physical or metaphorical sense.

Upward Sloping

A term often used to describe a line on a graph that shows an increase in a variable as another variable increases, indicative of a direct relationship.

Positively Related

A term describing the relationship between two variables where they move in the same direction; when one increases, the other also increases, and vice versa.