Quality Diamond File
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Quality Diamond File
Need to check my answers......?
1-Pretty Jewels Company contracts to buy diamonds from Quality Gems, Inc., but wrongfully refuses to accept the goods. Quality can recover damages equal to the difference between the contract price and the market price at the time:
(a)and place of tender.
(b)Quality filed a suit against Pretty Jewels.
(c)Quality learned of the breach.
(d) the parties contracted.
2-Alpha Commodities, Inc., agrees to deliver ten tons of sheet metal to Beta Builders Corporation. The agreement states that delivery is to be within "3" days, although the parties intend "30" days. Alpha cannot convince Beta to amend the contract. Alpha should seek:
(a) damages.
(b) reformation.
(c) rescission.
(d) specific performance.
I disagree with Raicha's answer for #2.
If the record does not accurately reflect the actual intention of the parties, a court will reform the record. It is the legal method for correcting inadvertent errors in the record of the agreement.
I say b.
Edit: c is not completely incorrect. Alpha can seek recission, but why would it want to? By rescinding the agreement, instead of reforming it, Alpha loses the profits it would receive from the sale to Beta. b is the better answer.
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