Texas A&M University, Corpus Christi GB 433

Texas A&M University, Corpus Christi

GB 433.120

Quiz 7:

1)The most common way to discharge, or terminate, contractual duties is:

2. Jane hired Peacock to paint her house for $500. Peacock began painting and had partially completed the project when he fell off his ladder and injured his back. His doctor told him he would not be able to paint for one year. It costs Jane

$750 in reasonably necessary expenses to hire another painter to finish her house. As a result, Peacock will:

3. Luther owned a drugstore. Because it kept him so busy, he decided to sell his boat, which he did not have time to use. He advertised it in the local newspaper, and Richard answered the ad. Luther gave Richard a signed offer allowing him 10 days in which to accept Luther's offer to sell the boat for $2500. Several days later, Luther told Richard he had changed his mind and was keeping the boat. Richard sued arguing that he may enforce Luther's "firm offer." Decide.
4. Under the UCC, an action for breach of contract must be commenced within how many years after the breach occurs?
5. You enter into a contract with Misha, a distributor from St. Petersburg, Russia. In your contract, you specify that US law will apply to the interpretation and enforcement of the contract. This would be called a: