short discussion about business law and economics
You can read and answer these discussions.
1. Svartalfheim manufactures forges. Brokkr&Sindri, maker of fine hammers, had decided to purchase new forges. Eitri, a representative of Svartalfheim, met with Thor, the president of Brokkr&Sindri, to describe the advantages of Svartalfheim’s new forges. Eitri also drew rough plans of the alterations that would be required in the Brokkr&Sindri manufacturing hall, Asgard, to accommodate the new forges, including additional floor space and new electrical installations, and left the plans with Thor.
On January 21, Thor received a letter signed by Loki, a member of Svartalfheim’s sales staff, offering to sell the required number of forges at a cost of $2.4 million. The offer contained provisions relating to the delivery schedule, warranties, and payment terms, but did not specify a particular mode of acceptance of the offer. Thor immediately decided to accept the offer, and telephoned Svartalfheim’s office. Loki was out of town, and Thor left the following message: “Looks good. I’m sold. Call me when you get back so we can discuss details.â€
Thor next telephoned Nidavellir and rejected an outstanding offer by Nidavellir to sell forges to Brokkr&Sindri similar to those offered by Svartalfheim. Using the rough plans drawn by Eitri, Boss also directed that work begin on the necessary manufacturing hall renovations. By January 24, a wall had been demolished in the manufacturing hall and a contract had been signed for the new electrical installations.
On January 25, the President of the United States announced a ban on imports of foreign computerized heavy equipment. This removed from the American market a foreign manufacturer that had been the only competitor of Svartalfheim and Nidavellir. That afternoon, Thor received a telegram from Svartalfheim stating, “All outstanding offers are withdrawn.†In a subsequent telephone conversation, Loki told Thor that Svartalfheim would not deliver the forges for less than $2.9 million. A telephone call by Thor to Nidavellir revealed that Nidavellir’s entire output had been sold to another buyer.
Was Svartalfheim obligated to sell the forges to Brokkr&Sindri for $2.4 million? Discuss.
Assume Svartalfheim was so obligated. What are Brokkr&Sindri’s rights and remedies against Svartalfheim? Discuss
2. Macroeconomic
Create a basket of goods by listing 10 items that would in a typical basket of goods and try to incorporate items from multiple categories. Then describe how the basket of goods is used to calculate CPI.
