BUSINESS LAW QUESTION Answer with a complete IRAC analysis for the following case. IRAC is...

50.1K

Verified Solution

Question

Accounting

BUSINESS LAW QUESTION Answer with a complete IRAC analysis for the following case. IRAC is Issue, Rule, Analysis, Conclusion. Issue: identify issues in both of the situations for Joseph and IIlya Rule: (include every rule of law that applies) Analysis: (Explain how the rules apply and why) Conclusion: (Say how the court would rule the problem)

1. Joseph is the owner of #OnTrend, a trendy coffee shop in the West Village. Realizing the increasing demand for avocado toast, Joseph entered a contract with Ilya, a fresh produce supplier. The written contract specified that on November 7th, Ilya will deliver 20 pounds of avocados at $10 per pound. On November 7th, Joseph got the avocado delivery and discovered that about 40% of the avocados are defective and nearly rotten. Joseph called Ilya offered to pay $100 for the entire batch. Ilya refused and hang up. Joseph then mailed Ilya a check for $100 in full settlement of the claim. Ilya cashed the check but before endorsing he added: without prejudice. a. Ilya sues Joseph for the remaining $100. Joseph claims that the entire debt is discharged. Judgment for whom? Explain. b. Assume instead that the contract between Joseph and Ilya included the following provision: In case of a breach, the breaching party will pay the non-breaching party $5000. Joseph sues Ilya for breach and demands the $5000 payment. Judgment for whom?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students