Fact Pattern 20-B1 (Questions B16-B18 Apply)

question 8

Multiple Choice

Fact Pattern 20-B1 (Questions B16-B18 apply)
Ripe Produce,Inc.,and Southeast Asian Bistro & Market enter into a contract for the delivery of locally grown fruits and vegetables.The parties use a standard Ripe Produce form that contains some of the terms the parties agree on but not others.Some of the produce spoils before it can be cooked,served,and eaten,or sold.Southeast Asian refuses to pay for the spoiled goods.
-Refer to Fact Pattern 20-B1.Ripe Produce responds that it did not waive payment for spoiled goods in the parties' previous transactions.Ripe Produce is arguing that the court should take into account

• A)the course of dealing.
• B)the course of performance.
• C)the usage of trade.
• D)a rule of construction.

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Definitions:

Marginal Revenue Product

The additional income produced by one more unit of input, such as labor or capital, in the production process.

Variable Input

An input whose quantity can be adjusted in the short run to affect the level of output in the production process.

Marginal Revenue Product

The additional revenue generated by employing one more unit of a certain input, keeping other inputs constant.

Collection Agents

Individuals or agencies tasked with pursuing and collecting payments on overdue accounts, loans, or other financial obligations.