A Company Ordered 47 Square Yards of Red Carpet, 48

question 26

Short Answer

A company ordered 47 square yards of red carpet, 48 square yards of blue carpet, and 46 square yards of yellow carpet. The carpet cost $20 per square yard including tax. Compute the amount the company paid for the carpeting.

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Definitions:

Bilateral Contract

A contract in which the promise of one of the parties forms the consideration for the promise of the other.

Unilateral Contract

A contract where one party makes a promise in exchange for an act by the other party.

Quasi-contract

A quasi-contract is a legal concept where the court imposes a contract-like obligation on a party to prevent unjust enrichment, even though no actual agreement exists between the parties.

Promissory Estoppel

A legal principle that prevents a party from withdrawing a promise made when the other party has reasonably relied on that promise to their detriment.