Nonny Agrees to Buy a Unique Collection of Olympics Memorabilia

question 9

Multiple Choice

Nonny agrees to buy a unique collection of Olympics memorabilia for $7,000 from Piper and sends $1,500 as a down payment.When Nonny sends Piper the rest of the price,she refuses to ship the collection.Nonny should seek

• A)damages.
• B)quasi-contractual recovery.
• C)rescission.
• D)specific performance.

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Definitions:

Reasonable Payment Terms

Fair and equitable conditions or periods within which payments are to be made under a contract or agreement.

Admission

The act of confessing, acknowledging, or admitting someone into a place, organization, or institution; or conceding a point in an argument.

UCC

A collection of legal guidelines known as the Uniform Commercial Code is designed to regulate commercial activities across the United States.

Counteroffer

An offer made by an offeree to the offeror that relates to the same matter as the original offer but proposes a substituted bargain that differs from the one proposed in the original offer.