Nicholas entered into a written contract with Mondo Choco,Inc. ,agreeing to pay Mondo Choco $700 for several hundred assortments of holiday chocolates for the employees of his corporation.Mondo Choco failed to deliver the chocolates by the date set in the contract.Nicholas then told Mondo Choco that he would cover the sale.Discuss.

Holiday Chocolates

Chocolate products specifically designed and packaged for celebrations or festive occasions.

Written Contract

A legally binding agreement between two or more parties that is expressed in written form.

Cover the Sale

A financial term referring to a transaction in which an investor purchases securities to close or cover a previously established short position.