Computers and Technology
Submitted By darkstar3645
1. After reading Section Four of Chapter 19, summarize offer, acceptance and consideration with respect to the UCC. The author has condensed an enormous amount of material into these five pages. I want you to be able to understand and summarize these pages by focusing mainly on these pages for your assignment.
2. When does title pass? Please cite the UCC section and give an example.
1. Offer. Discuss and answer question 19-5 on offers.
In 1998, Johnson Controls, Inc. (JCI) began buying auto parts from Q.C. Onics Ventures, L.P. For each part, JCI would inform Onics of its need and ask the price. Onics would analyze the specifications, contact its suppliers, and respond with a formal quotation. A quote listed a part’s number and description, the price per unit, and an estimate of units available for a given year. A quote did not state payment terms, an acceptance date timing of performance, warranties, or quantities. JCI would select a supplier and issue a purchase order for a part. The purchase order required the seller to supply all of JCI’s requirements for the part but gave the buyer the right to end the deal at any time. Using the procedure, JCI issued hundreds of purchase orders. In July 2001, JCI terminated its relationship with Onics and began buying parts through another supplier. Onics filed a suit in federal district court against JCI, alleging breach of contract. Which documents – the price quotations or the purchase orders – constituted offers? Which were acceptances? What effect would the answers to these questions have on the result in this case? Explain. [Q.C. Onics Ventures, LP v. Johnson Controls, Inc., __ F.Supp.2d __ (N.D.Ind. 2006)]