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principles of business law


9-1 Contract Modification. Tabor is a buyer of file cabinets manufactured by Martin. Martinyi 0.5 s contract with Tabor calls for delivery of fifty cabinets at $40 per cabinet in five equal installments. After delivery of two installments (twenty cabinets), Martin informs Tabor that because of inflation, Martin is losing money and will promise to deliver the remaining thirty cabinets only if Tabor will pay $50 per cabinet. Tabor agrees in writing to do so. Discuss whether Martin can legally collect the additional $100 on delivery to Tabor of the next installment of ten cabinets.

9-2 Intoxication. After Kira had had several drinks one night, she sold Charlotte a diamond necklace worth thousands of dollars for just $100. The next day, Kira offered the $100 to Charlotte and requested the return of her necklace. Charlotte refused to accept the $100 or return the necklace, claiming that there was a valid contract of sale. Kira explained that she had been intoxicated at the time the bargain was made and thus the contract was voidable at her option. Was Kira correct? Explain.

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