Which of the Following Was the Result in the "Case

question 46

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

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Definitions:

Global Market Entry Strategy

The planned method of delivering goods or services to a new target market and distributing them there.

Financial Commitment and Risk

Refers to the obligation of allocating resources with the possibility of incurring losses in financial transactions or investments.

Exporting

The act of selling goods or services produced in one country to buyers in other countries.

Direct Investment

The purchase or acquisition of a controlling interest in foreign business enterprises.