Tufts and McDougal Were Having an Argument About the Law

question 6

Multiple Choice

Tufts and McDougal were having an argument about the law regarding performance of a contract. Which one of the following statements of theirs is correct?

• A) If Jed shows up with cash for the mechanic on the day and at the place designated in the contract, and the mechanic refuses to take it for some reason, Jed doesn't ever have to pay him.
• B) If Joan owes a $500 debt due on a specific date, she doesn't have to pay until the creditor seeks her out for payment.
• C) If Roscoe tries to deliver lumber to Jed in accordance with their contract and Jed doesn't take delivery of it, Roscoe can sue Jed for breach of contract without ever trying to deliver it again.
• D) If Jed has to pay $500 to his mechanic, he can pay the whole debt in dimes and the mechanic has to take them.
• E) If Jed owes the mechanic $500, a cheque is as good as cash in law even if the mechanic said he wouldn't take a cheque.

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Definitions:

Market Quantity

The total amount of a specific good or service that is available for purchase in a market at a given time.

Buyers

People or organizations that acquire products or services within a marketplace.

Price

The price one must pay to secure a product or service.

Controlling

A management function focused on monitoring performance and taking corrective action to ensure achievement of organizational goals.