Solved

Veggy Time Inc

Question 77

Essay

Veggy Time Inc., is a distributor of canned vegetables. It has been dealing with Fred Farmer for 10 years, purchasing Fred's entire corn crop. Fred's farm is so large and productive that Veggy Time has exclusively bought all of its corn from Fred alone. Once again it has entered into a contract with Fred to purchase his entire 2015 crop and has no other corn sellers under contract. For the past 10 years, Fred has delivered 100,000 bushels of corn to Veggy Time. Unfortunately, due to an extraordinary amount of rain, Fred's fields are now flooded and most of his crop is destroyed. In 2015, Fred can deliver only 10,000 bushels, and Veggy Time is about to suffer a huge loss. Does Veggy Time have any rights against Fred to recover for its losses? What could Veggy Time do to mitigate its damages?

Correct Answer:

verifed

Verified

This was an output contract, and Fred wa...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents