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Unformatted text preview: I agree with Todd on this answer, but to add to the argument that it is not in Big Banks best interest to rescind the contract, is Paragraph 8a. Limitation Of Liability, where it states: “Big Bank is under no duty to make any payments to Systems Inc. for any period exceeding five consecutive business days in which the Services are not performed by Systems Inc. as a result of a natural disaster or other phenomenon mentioned above.” This includes: inclement weather, interruptions in telephone or electrical service. As a result of the ice storm, they were shut down for consecutive days, therefore, Systems Inc. is not responsible for the delay and Big Bank would still have to honor the contract. What facts could you cite to support an argument that Big Bank be responsible for some of these issues and/or not in compliance with the contract? from paragraph 2b under Conversion Of Big Bank’s Information that: “Systems Inc. reserves the right to postpone conversion of Big Bank's information files if Big Bank is late in delivering its...
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This note was uploaded on 10/28/2011 for the course BUSINESS ACCT 305 taught by Professor Poletti during the Spring '09 term at DeVry Columbus North.
- Spring '09