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Mgmt 597_Final exam final Return Essay

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Grading Summary These are the automatically computed results of your exam. Grades for essay questions, and comments from your instructor, are in the "Details" section below. Date Taken: 12/17/2014 Time Spent: 4 h , 13 min , 05 secs Points Received: 285 / 300 (95%) Question Type: # Of Questions: # Correct: Essay 6 N/A Grade Details - All Questions Page: 1 2 Question 1. Question : (TCO A, C) Jim worked for AAA Job Shop, Inc. for over 30 years. Two months before Jim retired, the head of human resources told Jim that the company would pay for health insurance for Jim and his wife for the remainder of his life, and for his wife’s life if she were to survive him, and handed Jim a letter from the company describing this. Jim had …show more content…

But she said she would cover $200 of the repair costs. Joan then took the car to be repaired at a cost of $487. Joan now wants to recover the full repair costs from Marge. Marge refuses to pay any amount. Discuss the issues that would arise in this case. Student Answer: Accounting to the Statute of Frauds , "if a contract is required to be in writing under the Statute of Frauds but is not, the contract is unenforceable. The parties may voluntarily perform a contract that is unenforceable." (Cheeseman, p158) Actually, they both signed a written agreement that "as is, without any warranties" after the Marge told Joan that she would fix any problems with the drivetrain that arose in the first 1,000 miles. The first 1,000 miles should had been written on the contract in order to become enforceable. Since the promise was made before the negotiation, there might have some change before the agreement was signs such as lower the price. So, Joan would not be honer for the first 1,000 miles warranties in this case as she signed "as is". Now, let's discuss the repair fee, Under UCC Statute of Frauds Section 2-201(1) A section of the Uniform Commercial Code which states that sales contracts for the sale of goods costing $500 or more must be in writing. (Cheeseman, 223) Since the repair fee was under $500 in this case, no writing contract needed to be made. Since the repair fee is in oral agreements that was made later and modify the

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