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Terminal Grain Corporation brought an action against Glen Freeman, a farmer, to recover damages for breach of an oral contract to deliver grain.
According to the company, Freeman orally agreed to two sales of wheat to Terminal Grain of four thousand bushels each at $6.21 a bushel and $6.41 a bushel, respectively.
Dwayne Maher, merchandising manager of Terminal Grain, sent two written confirmations of the agreements to Freeman. Freeman never made any written objections to the confirmations.
After the first transaction had occurred, the price of wheat rose to between $6.75 and $6.80 per bushel, and Freeman refused to deliver the remaining four thousand bushels at the agreed-upon price.
Freeman denies entering into any agreement to sell the second four thousand bushels of wheat to Terminal Grain but admits that he received the two written confirmations sent by Maher. Decision?
Use the parameters given in equations (8.48)-(8.50) to show that the GPD distribution of (8.47) reduces to the power-law distribution (8.51).
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Alternative submission method
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The Otter Creek Winery produces three kinds of table wine-a blush, a white, and a red. The win- ery has 30,000 pounds of grapes available to produce wine this season. A cask of blush requires 360 pounds of grapes, a cask of white requires 375 poun..
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