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

Exercise 5

Projansky, owner of a retail leather goods store, entered into a contract to purchase luggage from the Likely Manufacturing Company for $2,000. Likely later refused to deliver the luggage at that price, claiming that inflation had caused the price of luggage to rise 15 percent since the contract with Projansky was made. Projansky then purchased the luggage from another company for $2,400 and sued Likely for $400. Should Projansky recover?