Suppose two parties to a contract that is under the UCC decide to make a significant change in the contract, obligating the seller to provide more goods. When the terms of the contract change, it requires:
a. fair market value consideration b. at least nominal consideration
c. trade usage consideration
d. signing a new contract to evidence a willingness to change e. no consideration
e
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Stilt Corporation purchased a 40% interest in the common stock of Shallow Company for $2,660,000 on January 1, 2013, when the book value of Shallow's net equity was $6,000,000. Shallow's book values equaled their fair values except for the following items:
Book Fair Value Value Difference Inventories $450,000 $500,000 $ 50,000 Land 100,000 450,000 350,000 Building-net 400,000 200,000 (200,000 ) Equipment-net 350,000 400,000 50,000 Required: Prepare a schedule to allocate any excess purchase cost to identifiable assets and goodwill. What will be an ideal response?
An example of a misleading statement in a rejection message would be:
A) "Your store would be a great venue for a demo product." B) "It is not our policy to providie a venue for music." C) "I like your ideas, but they will not work." D) "That venue is too dark for our event."