This topic contains a solution. Click here to go to the answer

Author Question: Which of the following is a securities professional: a. a broker b. a dealer c. an adviser d. all ... (Read 31 times)

ETearle

  • Hero Member
  • *****
  • Posts: 580
Which of the following is a securities professional:
 a. a broker b. a dealer
  c. an adviser
  d. all of the other specific choices are correct
  e. none of the other specific choices are correct

Question 2

Remedies of the Buyer or Lessee. Mississippi Chemical Corp (MCC) produces ammonia at its fertilizer plant in Yazoo City, Mississippi. The production of ammonia involves the compression of gas in special equipment called a compressor train. In 1989, MCC bought from Dresser-Rand Co a specially designed train that included a high-case compressor and a low-case compressor. The contract expressly guaranteed that the train would be free from defects and would conform to certain technical specifications, but it did not work as promised. When the high-case compressor broke in 1990, MCC wrote to Dresser, This letter constitutes notice by MCC that



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

bulacsom

  • Sr. Member
  • ****
  • Posts: 329
Answer to Question 1

d

Answer to Question 2

Remedies of the buyer or lessee
A jury awarded MCC damages in the amount of 4,422,876.92 for lost profits during the different periods when the train was malfunctioning. Dresser appealed to the U.S. Court of Appeals for the Fifth Circuit. The court held in part that MCC provided adequate notice of the defects in the compressor train to trigger liability under the contract, and affirmed the judgment of the lower court. Under UCC 2-607(3), a buyer who accepts tender of goods must within a reasonable time after he discovers or should have discovered any breach notify the seller of breach or be barred from any remedy. The appellate court noted that for notice to be sufficient under this provision, it need not be a specific claim for damages or an assertion of legal rights. The court emphasized that MCC gave notice of defects in the high case compressor . . . . It is further undisputed that MCC provided evidence that the defects in the high case compressor were common to the low case compressor as well. Given this evidence, a reasonable jury could have concluded, under the notice provision of the UCC, that MCC's 1990 letter provided suffi-cient notice to trigger liability for any common defect in the low case or the high case compressor.




ETearle

  • Member
  • Posts: 580
Reply 2 on: Jun 24, 2018
Great answer, keep it coming :)


elyse44

  • Member
  • Posts: 319
Reply 3 on: Yesterday
Excellent

 

Did you know?

When taking monoamine oxidase inhibitors, people should avoid a variety of foods, which include alcoholic beverages, bean curd, broad (fava) bean pods, cheese, fish, ginseng, protein extracts, meat, sauerkraut, shrimp paste, soups, and yeast.

Did you know?

Egg cells are about the size of a grain of sand. They are formed inside of a female's ovaries before she is even born.

Did you know?

Thyroid conditions cause a higher risk of fibromyalgia and chronic fatigue syndrome.

Did you know?

The toxic levels for lithium carbonate are close to the therapeutic levels. Signs of toxicity include fine hand tremor, polyuria, mild thirst, nausea, general discomfort, diarrhea, vomiting, drowsiness, muscular weakness, lack of coordination, ataxia, giddiness, tinnitus, and blurred vision.

Did you know?

A good example of polar molecules can be understood when trying to make a cake. If water and oil are required, they will not mix together. If you put them into a measuring cup, the oil will rise to the top while the water remains on the bottom.

For a complete list of videos, visit our video library