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| Teaching Since: | May 2017 |
| Last Sign in: | 363 Weeks Ago |
| Questions Answered: | 20103 |
| Tutorials Posted: | 20155 |
MBA, PHD
Phoniex
Jul-2007 - Jun-2012
Corportae Manager
ChevronTexaco Corporation
Feb-2009 - Nov-2016
Blue Chip, Inc. has agreed in writing to sell 100,000 of its programmable chips to Mr. Chips, Inc. for $10,000, to be delivered November 9th.   Blue Chip has suffered a loss of skilled workers due to a strike and as a result its production capacity is greatly reduced. Wishing to stay on good terms with it customer, Blue Chip immediately informs Mr. Chips of the slowdown. Mr. Chips reluctantly agrees in writing to accept the chips on November 22. Under these facts and under the UCC:      Â
Â
options:
1) Â Â This written modification of contract governed by the UCC needs no new consideration to be binding.
2) Â Â Mr. Chips can change its mind and immediately demand the chips because Blue Chip is under a preexisting duty to deliver on November 9.
3) Â Â Both A and B
4) Â Â Mr. Chips can still sue for breach of contract if the chips are not there on November 9th because there was no consideration for its promise to accept a later delivery time.Â
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