Koch Materials Co. v. Shore Slurry Seal, Inc.
United States District Court for the District of New Jersey
205 F. Supp. 2d 324 (2002)
- Written by Rich Walter, JD
Facts
The exclusive requirements contract between Koch Materials Company (Koch) (plaintiff) and Shore Slurry Seal, Inc. (Shore) (defendant) obligated Shore to buy all its asphalt from Koch. Shore had some difficulty meeting the contract’s annual minimum-purchase requirements. Thus, when Shore informed Koch that it intended to sell its balance-sheet assets and assign its contractual obligations to another company, Koch asked Shore for more information about the assets in question and the prospective buyer and sought Shore’s assurance that the buyer could fully perform to the contract. Shore replied with a letter denying any contractual duty to supply the requested information and assurance. Koch sued in federal district court under New Jersey’s Uniform Commercial Code (UCC). Koch moved for summary judgment that Shore’s evasive response breached UCC § 2-609 and effectively repudiated the contract.
Rule of Law
Issue
Holding and Reasoning (Orlofsky, J.)
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