Qualcomm, Inc. sends an invoice to BIC PENS, Inc ordering 150 blue ink pens. BIC PENS Inc., ships 150 mechanical pencils, without any comment or discussion. Discuss the contract/UCC points raised under these facts
The buyer's order stipulated blue ink pens. The seller supplied mechanical pencils. Therefore, there is a breach of contract, as the seller has failed to perform the contract as per specifications.
In a contract for sale of goods, the UCC requires perfect tender by the seller, which means delivery of goods to the buyer that precisely meet the terms of the contract.
The options before the buyer are as follows:
Qualcomm, Inc. sends an invoice to BIC PENS, Inc ordering 150 blue ink pens. BIC PENS...
The Commissioner of Internal Revenue ("Commissioner") appeals the Tax Court's decision that he abused his discretion in requiring Jim Turin & Sons, Inc. ("taxpayer"), to use the accrual method of accounting to compute its federal taxes for the tax years at issue. In particular, the Commissioner contests the Tax Court's finding that emulsified asphalt is not "merchandise," as that term is used in 26 C.F.R.S 1.471-1. The Tax Court had jurisdiction pursuant to 26 U.S.C.SS 6213, 6214, and 7442. We...
The Commissioner of Internal Revenue ("Commissioner") appeals the Tax Court's decision that he abused his discretion in requiring Jim Turin & Sons, Inc. ("taxpayer"), to use the accrual method of accounting to compute its federal taxes for the tax years at issue. In particular, the Commissioner contests the Tax Court's finding that emulsified asphalt is not "merchandise," as that term is used in 26 C.F.R.S 1.471-1. The Tax Court had jurisdiction pursuant to 26 U.S.C.SS 6213, 6214, and 7442. We...