McMichael v. Price
|McMichael v. Price|
|Court||Oklahoma Supreme Court|
McMichael (defendant) had sand mining operation in Tulsa, Oklahoma.
Mr. Price (plaintiff) bought sand locally in Tulsa & shipped it across the United States.
The 2 parties entered a requirements contract whereby McMichael would provide as much sand as Price required.
McMichael (supplier) agreed to supply all the sand that Price could sell over the next 10 years. Price would pay 60% of the market price at the sand's destination.After 5 months, McMichael refused to supply sands.
Price sued McMichael for breach of contract.McMichael answered that the contract lacked Mutuality of Obligation. McMichael lost.