2.) The fundamental laws of sales contracts are found primarily in:
A. judicial decisions of the federal courts
B. Executive decision made by the state governors.
C. Statutes passed by the state legislature.
D. All of the above (a-c) are equally important in determining the fundamental laws involving sales contracts.
3.) A verbal agreement was entered into by agents of Grey Loon, Inc. and Chin Wa Assocaiates. As is customary each agent sent the other a written standard form document.
Grey Loon’s purchase order stated the following:
“Dispute Resolution: All unresolved disputes leading to legal conflict shall be resolved in the courts of New Jersey under New Jersey Law.”
Chin Wa’s purchase acknowledgement read as follows”
“Arbitration: In the event of an inability of the parties to resolve a dispute(s) arising under said contract the parties shall be compelled to arbitrate such under the supervision of a mutually chosen arbitrator under the rules of the American Arbitration Association.”
As the terms in the two documents were contradictory no contract existed between the parties. T or F