Discuss the relevant law, Your responses should

Discuss the relevant law

Assignment Help Business Law and Ethics

Reference no: EM133620691

Assignment:

Laura contracted to buy a new tractor from TreeHouse Farm Industries, Inc. for $210,000. According to the terms of the contract, Laura made $75,000 as a deposit and agreed to pay the balance upon delivery. The sale contract also contained the following provision:

In the event of non-payment of the balance of the purchase price on the due date or on such extended date which may be caused by late delivery on the part of TreeHouse Farm Industries, Inc., the Customer shall be liable for immediate payment of the full balance, plus 15% interest.

When the tractor arrived two weeks late, Laura refused to accept it, stating that she had purchased a substitute tractor from a different seller. Laura sued TreeHouse Farm Industries, Inc. for the return of her &75,000 deposit. TreeHouse Farm Industries, Inc. counterclaimed seeking an order that Laura accept delivery of the tractor and pay the entire balance of the contract, plus 15% interest.

What arguments would support the claim by Laura for the return of the deposit? Explain
What arguments would support the claim by TreeHouse Farm Industries, Inc. for the performance of the contract? Explain
Who should prevail? Explain.

Your responses should include/discuss the relevant law. Also, your answers have to be in your own words and AI-Generated answers are not allowed.

Reference no: EM133620691

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