Contracts - custom and trade usage
MT, already in the business of marketing agricultural products, decided to try its hand at marketing potatoes for processing. Nine months before the potato harvest, HMT contracted to supply Bell Brand with 100,000 sacks of potatoes. At harvest time, Bell Brand would only accept 60,000 sacks. HMT sues for breach of contract. Bell Brand argues that custom and usage in marketing processing potatoes allows buyers to give estimates in contracts, not fixed quantities, since the contracts are established so far in advance. HMT responds that the quantity term in the contract was definite and unambiguous.
Can custom and trade usage be used to interpret an unambiguous contract? Discuss.
Referring to the scenario, this solution discusses if custom and trade usage can be used to interpret an unambiguous contract.
- Plain text response
- Your Information is Secure
- Best Online Academic Help Service
- Students find real academic Success
- Business Law - With regard to a completely integrated contract, parole evidence can be used to: a. Contradict the terms of the contract b. Explain ambiguities on the contract c. Supplement the terms of the co ...
- Business law - Name some defenses to contract formation. In other words, what are some legally acceptable items that one could point to in order to deny that a contract had been formed? Why have these become accep ...
- legality of contracts - Shoddy, the owner of Shoddy Shoe Repair, was contemplating retirement. He therefore contracted to sell the business to Pauline Parker. Shoddy Shoe Repair was located in Hoosierburg, Indiana, which has ...
- What is the effect of one party being mistaken about the subject matter of a contract? - What is the effect of one party being mistaken about the subject matter of a contract? a. The mistaken party can rescind the contract. b. Either party can rescind the contract. c. Either party ca ...
- Legality of Contract. - Jan opens a sandwich shop across the street from a sandwich shop run by Amy. Amy is disturbed by this competition, and she agrees to pay Jan $5000, in exchange for Jan's promise to quit her business a ...
