Question

Nori Store contracts to purchase​ $1,000,000 of goods from a clothing manufacturer. Nori pays​ $100,000 as a down​ payment, and the first​ $200,000 worth of goods are delivered. The goods are materially​ defective, and the defect cannot be cured. Nori​ _______.

A. must sell the goods even with the defectB. is obligated under the​ $1,000,000 contractC. must pay the additional​ $100,000D. can rescind the contract and receive its​ $100,000 backE. can rescind the​ contract, but it cannot get its​ $100,000 back

Answer 1

Answer: E

Explanation:can rescind the​ contract, but it cannot get its​ $100,000 back.

It's already a fixed contract, he can only rescind the contract but would have his money at stake

Answer 2

Based on the fact that the goods are defective,  Nori can rescind the​ contract, but it cannot get its​ $100,000 back.

What is an Agreement?

This refers to the legally binding deal between two or more persons where they agree on a thing.

Hence, based on the fact that Nori Store has been contracted to purchase $100,000 worth of goods, and there has been a down payment but the goods are defective, then Nori can rescind the​ contract, but it cannot get its​ $100,000 back.

Read more about agreements here:
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