A Contract Calls for a Farmer to Send Apples Growing

question 22

Multiple Choice

A contract calls for a farmer to send apples growing at his farm to the fruit market every Monday, and he promptly sends fresh stock of apples every Monday as per the contract. If the fruit market does not pay cash but rather sends a check the following week, then _____.

• A) the farmer can object, but the contract can be cancelled only after six months of the contract period
• B) the farmer cannot object under any circumstances
• C) the farmer must object if he may want to rely on the late payment as grounds for later canceling the contract
• D) the farmer can object only if he has not been paid by any means for the apples he delivered

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Definitions:

Equilibrium

A condition where the amount of goods available and the desire for them are equal, leading to consistent prices and the amount of goods sold.

Illegal Immigrant Workers

refers to individuals who are employed in a country without the legal right to work there, often under exploitative conditions.

Hired

The process of engaging an individual's services for employment under agreed-upon terms and conditions.

Equilibrium Wage

The wage rate at which the quantity of labor supplied by workers equals the quantity of labor demanded by employers, resulting in a stable labor market.