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FrozenT [24]
3 years ago
13

Julius asks Rachel if she would like to sell her boat. Rachel privately has no interest in selling her boat, and believes that J

ulius can’t afford her boat anyway. Rachel says, "I’d sell my boat to you for $20,000." To Rachel’s surprise, Julius responds "Ok, it’s a deal." Rachel does not want to sell the boat to Julius for any price. Julius and Rachel have:________
a. formed a valid contract, because Rachel’s outward expressions showed the formation of a contract.
b. formed a valid contract, because Julius expressed outward interest in the boat.
c. not formed a valid contract, because Rachel did not want to sell the boat for any price.
d. not formed a valid contract because of lack of definiteness in the contract terms.
Business
1 answer:
IRINA_888 [86]3 years ago
4 0

Answer:

Julius and Rachel have:

a. formed a valid contract, because Rachel’s outward expressions showed the formation of a contract.

Explanation:

A contract is a mutual agreement between two or more parties that is enforceable by law. A contract always creates a legal obligation between the parties that agreed to the contract. A contract can be written or spoken depending on the choice of the parties involved. A valid contract is a contract that is legally binding to the parties involved and thus the parties have a legal obligation to perform the contract duties as agreed. The following are some qualities of a valid contract;

1. There must be an offer, for example; Julius offered Rachel $20,000 for her boat.

2. Acceptance. The person being offered has to accept. In our case; Rachel expressed an acceptance of the offer by saying yes.

3. A promise to perform. since Rachel accepted the offer she expressed the desire to sell her bought to Julius thus a desire to perform.

4. Conditions of the contract. The terms of the contract should be stipulated to ensure that a contract breach is avoided.

The major qualities of a contract in general is that there has to be an offer and acceptance to that offer.

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gayaneshka [121]

Answer:

$607,000

Explanation:

False Value Hardware began 2016 with a credit balance of $32,000 in the allowance for sales returns account.

Sales and cash collections from customers during the year were $650,000 and $610,000, respectively.

False Value estimates that 6% of all sales will be returned.

During 2016, customers returned merchandise for credit of $28,000 to their accounts.

False Value's 2016 income statement would report net sales of:  

The closing balance in the allowance for sales returns account will be: 32,000 opening balance + 6% 0f 650,000 - sales returns within the year of 28,000 = $43,000

Hence Net Sales will be 650,000 - 43,000 = $607,000

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3 years ago
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Answer: 97.99

Explanation:

The one-year forward rate that an investor would be indifferent between the U.S. and Japanese investments will be:

= Spot rate × (1 + Japanese rate / 1 + U.S rate)

= 101 × (1 + 1% / 1 + 4.1%)

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2 years ago
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Sedaia [141]

Answer:

B: class and sequence.

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3 years ago
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Answer:

B. If both the current and accumulated E&P have deficit balances, a corporate distribution cannot be characterized as a dividend.

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