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Adams orders one thousand widgets at $5 per widget from International Widget to be delivered within sixty days. After the contract is consummated and signed, Adams requests that International deliver the widgets within thirty days rather than sixty days. International agrees. Is the contractual modification binding? Why or why not? |
Explanation
The original contract between Individual A and Company I had a delivery period of 30 days. However, this was altered by Individual A to 60 days. This alteration was made orally, making this contract unenforceable. This oral contract did not change the consideration of $5,000 (which is greater than $500) that was involved in the contract.This made the contract eligible to be considered in the scope of statue of frauds. For this reason, the contract does not bind Company I to fulfill the contract.
Verified Answer
The altered contract of delivering the products within 30 days instead of 60 days is not binding upon the seller as the contract has been altered orally.
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