Dee has been selling his corn crop to a local ethanol plant each fall. The ethanol plant and Dee do not have a written agreement. The ethanol plant always pays the current market price for the corn. Do Dee and the ethanol plant have a contract, and what type of contract is it: express or implied? Is it formal or informal? If the ethanol plant is taking all the corn Dee produces, is the contract a requirements contract? When will the contract come to an end?

Question

Social Studies

Snow

5 October, 20:44

Dee has been selling his corn crop to a local ethanol plant each fall. The ethanol plant and Dee do not have a written agreement. The ethanol plant always pays the current market price for the corn. Do Dee and the ethanol plant have a contract, and what type of contract is it: express or implied? Is it formal or informal? If the ethanol plant is taking all the corn Dee produces, is the contract a requirements contract? When will the contract come to an end?

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Answers (1)

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Barrett Mccann · Answer 1

They have a contract

Explanation:

Gentleman's contract

It is Informal

The contract ends when Dee one party stops performing their obligations. Or incase of death of one of the parties or when management changes