Ridgeview Mining Inc. agrees to deliver a certain quantity of oil to Static Energy Corporation. The agreement states that delivery is to be within "9" days, although the parties intend "90" days. Ridgeview cannot convince Static to amend the contract. Ridgeview should seek

a. damages.

b. reformation.

c. specific performance.

d. rescission.

Question

Social Studies

Johnston

31 July, 22:06

Ridgeview Mining Inc. agrees to deliver a certain quantity of oil to Static Energy Corporation. The agreement states that delivery is to be within "9" days, although the parties intend "90" days. Ridgeview cannot convince Static to amend the contract. Ridgeview should seek

a. damages.

b. reformation.

c. specific performance.

d. rescission.

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Answers (1)

Know the Answer?

Abril Bass · Answer 1

Answer: b) Reformation.

Explanation:

Reformation is defined as the method in which a party can rewrite agreement's term or certain portion so that it's actual intentions can be clearly described. It serves as the remedy or the corrective measure for variance in contract.

According to the situation in question, Ridgeview Inc. should use reformation method for altering the contract accordingly so that Static corporation can agree for the plan.

Other option are incorrect because damage is the harm in breach of contract. Specific performance is the certain factor in contract terms. Rescission is defined as termination of certain contract. Thus, the correct option is option (b).