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MMLU / In a written contract, a seller agreed to deliver to a buyer 1,000 widgets at a…

Problem

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question

In a written contract, a seller agreed to deliver to a buyer 1,000 widgets at a stipulated price of $10 each, FOB at the seller's place of business. The contract stipulated that "any party who wishes to assign this contract must have the written consent of the other party. " On March 1, the seller placed the widgets on board a cargo vessel that was destined to transport the widgets to the buyer. On March 2, the buyer received the following telegram from the seller:"Please be advised that the widgets are in transit. In addition, I hereby assign all my rights under our contract to our creditor. "The buyer did not consent to the assignment. The next day, the ship carrying the widgets sank in a violent storm, destroying its entire cargo. If the creditor brings an appropriate action against the buyer, the former will most likely recover

choices

  1. nothing, because the buyer never assented to the assignment.
  2. nothing, because the buyer never received the widgets.
  3. the contract price of$10,000.
  4. the difference between the contract price and the market value of the widgets.

subject

professional_law

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