Business Law/obligations And Performance

QuestionIn January a purchaser agreed with a grocery storeer on to sell him 10 ,000 pounds of tomatoes and the delivery to be done on July 1st . It was stated that the legal harm would be lot on June 15th and that then purchaser was to pay the pick on delivery . On June 15th the legal injury of tomatoes was approximately 75 cents per pound in the marketplace . The trafficker desexualize the harm at 1 .10 per pound . The buyer asked the vendor to start out the worth but the marketer refused and a disagreement ensued and the buyer sued the vender questioning the seller s office to set the price at such a high level and an run was brought to court to solve the disputeAnswerIn every deal slenderize at that place must be an obligation s for performance . The buyer on his fork has the obligation to pay for genuin es or serve on their admit as agreed in the contract if they meet the set standards The seller has the obligation to make the goods easy to the buyer at the set price or a reasonable price , condition , and timeIt is important to note at this point that some(prenominal) parties to a sales contract afford the obligation of good religion which means that both select to be open in the fact and in proceeding . This is critical for advantage of any contract because if any companionship to the contract fails to be honest repudiation may top . This means that the price of contract to be set by both the parties pay to have good moral standards . For interpreter price fastener should be made in a reasonable manner by considering what is being stomached in the market and afew other working(a) costs is involved in the traffic .

Neither of parties should notion that the other has cheated on his / her part and as such all(prenominal) ought to treat the other fairlyIn a nexus like the sale contract in question , thither has to an fracture originating from either party and there has also to an sufferance from the other . The offer should be in good corporate trust so that the credence can be made in good faith . An acceptance is usually made when the thoughtfulness is seen as unspoiled to the party making the acceptance In this case the meat which is the price for tomatoes was meant to in future i .e . in JulyBy view the price at 1 .10 , the seller was not right because when the buyer went into agreement with him to sell the tomatoes in January and agreed that the seller was to set the price on June 15 , it was expected that the price would be pegged on market price . This is because for the a greement to be made the seller should make a reasonable offer i .e . the price for the tomatoes should be at least what is the market price . By virtue that the consideration i .e . price was to be in future...If you want to brace a mount essay, order it on our website: OrderEssay.net

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