Essay
Barton Beers sells 5,000 of a variety microbrewed beers to Bars Inc for $50,000 for delivery by October 1 for the OctoberFest Celebration. Barton Beers receives a promissory note signed by Bars Inc for $10,000 due on November 1. The microbrewed beers arrive on time, but Bars Inc determines 20 percent of the beers are not microbrewed beers. They were made by traditional breweries. Because October 15th is the deadline for the regional OctoberFest Celebrations as set by Bars Inc, Bars Inc opts to purchase the remaining microbrewed beers from a more expensive brewer. Bars Inc's efforts to secure the new microbrewed beers cost an extra $14,000. Must Bars Inc pay the $50,000 note on November 1? Why or why not?
Correct Answer:
Verified
No, because Bars Inc is entitl...View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Correct Answer:
Verified
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q6: Article 3 admits _ to prove an
Q7: Each negotiable instrument is made up of
Q8: Holders in due course have immunity from
Q9: Article 3 of the UCC sets a
Q10: FTC regulations make it an "unfair or
Q12: The _ plays a central role in
Q13: The holder of a negotiable instrument is
Q14: _ notice is not sufficient notice to
Q15: Article 3 provides for personal defenses that
Q16: The _ requirement is particularly important to