Cengage Advantage Books: Business Law 9th Edition by Arnold Goldman ,William Sigismond

تمرين 18

Merkle, a frequent shopper at Grand's Specialty Store, received a rain check for an advertised sale item after Grand's supply of the product ran out. The rain check was in writing and stated that the item would be offered to the customer at the advertised sale price for an unspecified period of time. A Grand employee signed the rain check. When Merkle returned to the store one month later to purchase the item, the store refused to honor the rain check. Using Article 2 of the Uniform Commercial Code (UCC) as your guide, answer the following questions.
Questions
1. Was the store correct in not honoring this rain check? Why or why not?
2. Did Merkle wait too long to cash in on this rain check?
3. Could Grand's Specialty Store claim that the rain check was not valid because Merkle gave no consideration?