Dell Computers entered into an exclusive dealing agreement w…

Dell Computers entered into an exclusive dealing agreement with Best Buy whereby Best Buy was granted the exclusive right to sell its computers nationwide in return for 60% of the sales price of any Dell computers sold, if any.  The parties agreed to an initial shipment of 10,000 computers, with more computers to be shipped later, upon mutual agreement, once the initial shipment was sold. Which of the following best describes Best Buy’s obligations to Dell Computers under the agreement?

Borrower owes $10,000 to lender, but fails to pay it back. T…

Borrower owes $10,000 to lender, but fails to pay it back. The debt consists of a loan with a $7,500 principal and $2,500 interest on the principal.  The statute of limitations has expired and thereafter Borrower tells Lender that he is sorry and promises, “I will pay you back $7,500 by January 31 of the following year” (“January 31 Promise”). Borrower fails to pay the agreed amount by January 31. In a jurisdiction that follows the Restatement 2d of Contracts, which of the following most accurately states Borrower’s obligation to Lender?