Multiple Choice
Mid-American Oil had a contract with NSB Company to supply 1,000 gallons of oil by September 1.The contract contained a provision that required all modifications to be written and signed by the company presidents.In early August,an executive of Mid-American talked with the purchasing agent of NSB who orally agreed to two shipments of oil;one in September and the second one in December.By September 30,when only 500 gallons had been delivered,NSB sued.The likely outcome of this lawsuit is:
A) NSB wins because the modification was not supported by new consideration.
B) NSB wins because the modification has to be in writing.
C) Mid-American Oil wins because the UCC governs this case and no new consideration is required.
D) Mid-American Oil wins because new consideration was present.
Correct Answer:

Verified
Correct Answer:
Verified
Q1: An illusory promise is valid consideration.
Q2: Pastor Tom was employed by the First
Q4: A liquidated debt is one in which<br>A)the
Q5: In the historic case of Hamer v.Sidway,the
Q6: Billy owes a liquidated debt of $3,000
Q7: As it pertains to consideration,which of the
Q8: Shelby hired Evan to drill a well
Q9: Shirley Rhone suffered injuries when a truck
Q10: Contracts in which one party agrees in
Q11: Mary owes $3,800 on her credit card.She