Cengage Advantage Books: Law for Business 19th Edition by John Ashcroft,Katherine Ashcroft,Martha Patterson

Exercise 5

Brenda Darlene, Inc. (Brenda), operated a shrimp boat offthe coast of Texas. Brenda entered into an agreement with Bon Secour Fisheries, Inc. (BSF), whereby BSF would purchase all of Brenda's shrimp. The price was determined by the market at the time of delivery to BSF. At the time the shrimp were delivered to BSF, Brenda's employee asked BSF's dock representative if he thought the previous week's market price for shrimp would hold, and BSF's representative responded that he "thought it would." BSF in fact paid a lower price than it had paid the previous week. Under either calculation, the value of shrimp was far in excess of $500. Brenda raised a judicial admission exception to the Statute of Frauds. How should the court rule?