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Snowcat [4.5K]
3 years ago
13

Harry owns a Cadillac and a Porsche. Ryan has always wanted a Porsche and knows Harry owns one. Harry decides to sell his Cadill

ac and buy a BMW. A mutual friend of Ryan and Harry tells Ryan, "Harry's selling his car." Thinking Harry is selling the Porsche (he does not know he also has a Cadillac), Ryan calls Harry and says, "I'll give you $9,500 for your car." Harry, thinking Ryan is talking about the Cadillac, says, "You've got a deal." On what grounds is the above agreement open for rescission
Business
1 answer:
seropon [69]3 years ago
6 0

Answer:

mutual mistake

Explanation:

A mutual mistake happens when all the parties involved in a contract (two or more) are mistaken or do not know the correct information about some specific material fact that is relevant to the contract. In this case, the contract can be rescinded because Harry believes that Ryan wants to buy his Cadillac, while Ryan believes Harry is selling his Porsche.  

Since both of them are mistaken and do not know relevant material facts regarding the contract, the contract can be terminated.

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Nutka1998 [239]

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6 0
3 years ago
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If a corporation issued $3,000,000 in bonds which pay 10% annual interest, what is the annual net cash cost of this borrowing if
Anni [7]

Answer:

$210,000

Explanation:

Cost of Borrowings (Interest expense) = Amount of Borrowings * Rate of Interest = $3,000,000 * 10% = $300,000

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8 0
3 years ago
What is a good bakery name?
Mrac [35]
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7 0
3 years ago
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Which decision-making style is also referred to as the ostrich style?
Katarina [22]

evader,  (ignoring the decision)

8 0
4 years ago
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I need help.
kumpel [21]

Answer:

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