Discuss secure companys contentions

Assignment Help Microeconomics
Reference no: EM131192997

Secure Courier, Inc., has a requirements contract with Petro Distribution Corporation that obligates Petro to supply Secure with all the gasoline it needs for its delivery vehicles for one year at $2.30 per gallon. A clause inserted in small print in the contract by Secure, and not noticed by Petro, states, "The buyer reserves the right to reject any shipment for any reason without liability." For six months, Secure orders and Petro delivers under the contract without any controversy. Then, because of a war in the Middle East, the price of gasoline to Petro increases substantially. Petro tells Secure it cannot possibly fulfill their contract unless Secure agrees to pay $2.50 per gallon. Secure, in need of the gasoline, agrees in writing to modify the contract. Later that month, Secure learns it can buy gasoline at $2.40 per gallon from Refined Oil Company. Secure refuses delivery of its most recent order from Petro, claiming, first that the contract allows it to do so without liability, and second, that it is required to pay only $2.30 per gallon if it accepts the delivery. Discuss Secure's contentions.

Reference no: EM131192997

Questions Cloud

Identify relevant aspects of exposure to the population : Identify relevant aspects of exposure to the population within the community, including who is exposed and the potential for contamination of environmental media (food, water, air), and likely exposure pathways.
Incentive to improve performance : 1. Should healthcare providers be paid (reimbursed) according to the quality of care as incentive to improve their performance (known as pay for performance)? Explain why or why not (hint: www.ncqa.org)
Develop plans to improve business operations : Identify examples of good and bad business practices in the use of strategy design components. Research and discuss some of the changes occurring in the way that organizations structure themselves and their work.
Major institutions of a country institutional environment : What are the three major institutions of a country's institutional environment and how do they differ?
Discuss secure companys contentions : Secure refuses delivery of its most recent order from Petro, claiming, first that the contract allows it to do so without liability, and second, that it is required to pay only $2.30 per gallon if it accepts the delivery. Discuss Secure's contenti..
Human resource management have changed considerably : The functions of Human Resource Management have changed considerably over the past 50 plus years. Provide a summary of HRM's evolution and expand on the role of today’s HRM department. What have your experiences been with your company's HRM departmen..
Discuss the four interventions : After reading the article ‘Managing multicultural teams'( Harvard Business Review) discuss the four interventions suggested for handling conflict. Which intervention is the most practical? The most definitive?
Proposed federal aviation administration policy : Analyze the benefits of implementation of the proposed Federal Aviation Administration policy on arming pilots on commercial aircraft. Explain the negatives of implementation of the proposed Federal Aviation Administration policy on arming pilots on ..
Define group or culture which may be unique to your group : In a few sentences describe the characteristics which highlight, underscore or define the group or culture which may be unique to your group. It may be helpful for you to list the characteristics.

Reviews

Write a Review

 

Microeconomics Questions & Answers

  What would occur to four-firm concentration ratio and to

suppose that a small town has seven burger shops whose respective shares of the local hamburger market are as

  What myths has the work of his foundation debunked

1. Bill Gates argue that world poverty as we know it can be ended by 2020. What myths has the work of his foundation debunked and can what he has learned work here at home?

  Discuss the implication of the learning theories

Discuss the implication of the learning theories for the use of instructional media

  Have to be before he would spend a dollar buying a first cup

Suppose that Omar’s marginal utility for cups of coffee is constant at 1.5 utils per cup no matter how many cups he drinks. On the other hand, his marginal utility per doughnut is 10 for the first doughnut he eats

  Identify options for congresswoman moodys consideration

Identify options for Congresswoman Moodys consideration - Identify criteria that will be used to evaluate the options

  What are the causes of price escalation

Explain the concept of price escalation and why it can mislead an international marketer - What are the causes of price escalation

  First served allocation mechanism

What incentives are created under a first come, first served allocation mechanism - The market system may not be efficient because people want more of the product.

  Examine the major effects that government policies

Examine the major effects that government policies have on production and employment

  The relationship between the inflation rate and changes

Classify the following topics as relating to microeconomics or macroeconomics. a family’s decision about how much income to save. the effect of government regulations on auto emissions

  Comparing the size of economies to the gdp of the us

What specific standard is applied to a firm whose only contact with a forum state is through its Internet site? If you had an eBusiness, what could you do in order to limit your liability to suit in multiple jurisdictions?

  Explain what would happen to the level of competition

Prepare a 3- to 4-page paper, complying with APA guidelines and based on the following directions. Be sure to support your work with a minimum of two additional sources and provide specific citations as appropriate.

  Determine the equilibrium quantities for given question

Use the equilibrium condition and reduce the system to a 2 by 2 matrix system and solve for equilibrium prices. Then determine the equilibrium quantities.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd