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IRINA_888 [86]
2 years ago
12

Guido and hal want to rescind their contract under which guido sold hal a mountain bike for $100. To rescind the contract.

Business
1 answer:
True [87]2 years ago
8 0

Guido must return the $100 and Hal and must return the bike.

What does it mean to rescind the contract?

Cancellation of a contract.

Rescission may be unilateral, as when a party rightfully cancels a contract because of another party's material breach.

Rescission can also be mutual, as when the contracting parties agree to discharge all remaining obligations.

What is an example of rescind?

Rescind is defined as to cancel or make something void.

An example of rescind is someone calling off their wedding. verb. 2. To cancel a contract, whether unilaterally or by mutual agreement and restore both parties to status quo ante (the positions they would have been in if the contract had never existed).

Learn more about rescind here:

brainly.com/question/14259999

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7 0
3 years ago
Maureen, the owner of a boutique, studies the spending pattern and consumer behavior of the people in the area in which her stor
babymother [125]

Answer:Environmental Scanning

Explanation: Environmental Scanning is the process of acquiring information about trends, patterns, occasions and relationships related to a business' internal and external surroundings. The function of doing this is to confirm forecasts of internal and external elements that will affect a business' success. It also helps managers, such as Maureen, to identify threats and opportunities that are present in the environment. And in doing so Maureen is then able to decide the future path of her business.

8 0
3 years ago
The Perry Company reported Accounts Receivable, Net of $66,000 at the beginning of the year and $72,900 at the end of the year.
rjkz [21]

Answer:

d. 28.7

Explanation:

Calculation to determine the days to collect during year

Using this formula

Average collection period=Average accounts receivables/Net sales*365

Where,

Average accounts receivables=$66,000+$72,900/2

Average accounts receivables=$69,450

Let plug in the formula

Collection period =$69,450/$882,000*365

Collection period=28.7 days

Therefore the days to collect during year is 28.7days

3 0
3 years ago
Roberto Company uses a perpetual inventory system. On December 1, the company purchased $3,300 of merchandise for cash. Complete
Montano1993 [528]

Answer:

December 1, 202x, merchandise purchased for cash

Dr Merchandise inventory 3,300

    Cr Cash 3,300

Explanation:

When a company uses a perpetual inventory system, any purchases or sales are recorded directly using the appropriate inventory account. When a company uses a periodic inventory system, you should use a purchase account instead.

8 0
3 years ago
Credit terms are terms for a.when payments for merchandise are to be made with cash. b.when the payments for merchandise are to
tatiyna

Answer: b.when the payments for merchandise are to be made.

Explanation:

Credit terms refers to the payment terms which are mentioned on the invoice when a good is bought.

Credit terms are terms for when payments for merchandise are to be made. Credit Terms are made during sales on account. The credit term shows the discount rate tahts offered to the costumer and the time limit that the creditor is expected to pay.

8 0
3 years ago
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