Business Law

Assignment 2

PROBLEM 1

(a) What is the effect of the notice issues?

According to Florida Statue 672.607:" The buyer must within a reasonable time after he or she discovers or should have discovered any breach notify the seller of breach or be barred from any remedy". Yolandifulky assumed that notice was not required but he was wrong. According to Florida Statue 672.612 " An "installment contract" is one which requires or authorizes the delivery of goods in separate lots to be separately accepted, even though the contract contains a clause "each delivery is a separate contract" or its equivalent". Yolandifulk should have notified Orson-Buggy about the breach of contract after he received the first delivery because according to statue 672.208, since Yolandifulky accepted the first late delivery without notifying the seller of a breach of contract constitutes his agreement to the late delivery.

(b) What if on January 30 Yulandifuluky had filed suit against Orson- Buggy rather than waiting three months. Would the notice requirement have been satisfied?

Since the loses of Yolandifuluky Airlines company were significantly large ($24 million in damages), I find 3 months reasonable time for notice requirement satisfaction.

PROBLEM 2

Does Article 2 of the Code apply to the following matters?

(a) The sale of an insurance policy?

No, Article 2 deals with transactions in goods.

(b) The sale of real property? What about the sale of a house

Apart from the realty? See §672.107

Article 2 doesn't apply to the sale of real property. Article 2 can apply to the sale of a house apart from the realty: "  A contract for the sale apart from the land of growing crops or other things attached to realty and capable of severance without material harm thereto but not described in subsection (1) or of timber to be cut is a contract for the sale of goods within this chapter whether the subject matter is to be severed by the buyer or by the...