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Marizza181 [45]
3 years ago
12

John's son was not his agent but contracted to purchase a computer in John's name.When John learned of this,John sternly rebuked

his son but continued to use the computer for several weeks.After losing interest in the computer,John offered to return it,saying that the purchase was unauthorized.John:_______.
A) is not liable on the purchase.
B) expressly ratified the purchase.
C) is liable because all children have the apparent authority to contract for their parents.
D) ratified the purchase by John's conduct.
Business
1 answer:
umka21 [38]3 years ago
6 0

Answer:

D)

Explanation:

Based on the information provided within the question it can be said that in this scenario John ratified the purchase by John's conduct. This means that he basically gave formal consent of the purchase by not returning it immediately and instead using the computer for several weeks, which therefore makes the purchase valid.

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General Widget partnership assets amount to $34,000 after liquidation. Frank, Gene, and Hank, equal partners, each contributed $
maks197457 [2]

Answer:

$7,000

Explanation:

Balance to be distributed = Assets amount after liquidation - Creditor - Gene loan to the business

Therefore,

Balance to be distributed = $34,000 - $23,000 - $5,000 = $6,000

Since there is no agreement among the partners regarding the distribution of profits, the amount to be distributed will be shared equally for each partners as follows:

Each partner's of the amount to be distributed = $6,000/3 = $2,000

Amount received by Gene = Loan amount from + Distributed balance share

                                             = $5,000 + $2,000

Amount received by Gene = $7,000

Therefore, Gene gets $7,000 in distribution.

8 0
3 years ago
A corporate dissolution: a. cannot result from an agreement. b. results when a corporation does not hold an annual meeting. c. c
kogti [31]

Answer:

The correct answer is (C)

Explanation:

Corporate dissolution is a termination of cooperation that results after a complete consent of the board of directors.  Likewise, a corporate dissolution is a serious step that can begin with a board resolution. If the board of directors are on one page then it becomes easier to dissolve cooperation. It can only be done by a vote to approve the resolution by the board of directors and shareholders.

7 0
3 years ago
suppose the returns on long term corporate bonds and T-bills are normally distributed. Based on the values below answer the foll
postnew [5]

Answer:

32.35% ( the probability that in any given year, the return on long-term corporate bonds will be greater than 10 percent )

Explanation:

Given data for long-term corporate bonds

Standard deviation : 8.3%

mean = 6.2%

To calculate the probability that in any given year, the return on long-term corporate bonds will be greater than 10 percent ( USING THE NORM-DIST FUNCTION )

P( x > 10% ) = 1 - P(x<10%) = 1 - NORM-DIST (10,6.2,8.3,TRUE ) = 0.3235

= 32.35%

attached below is the missing part of your question

3 0
3 years ago
A credit card company claims that the mean credit card debt for individuals is greater than $ 5 comma 100. you want to test this
Oksanka [162]
MONEY MONEY MONEY MONEY MONEY MONEY MONEY MONEY MONEY
8 0
4 years ago
f pressure is put on the government to maintain a balanced budget during a recession. In this scenario, government would need to
Kitty [74]

Answer:

Increase

fall

Explanation:

A recession occurs when the gross domestic product of a country for two consecutive quarters is negative.

Annually balanced budget is a budget where at the end of every year, revenue must equal expenditure.

If in a recession, a government is under pressure to maintain a balanced budget, the government would need to increase taxes. this is because income would be less than government expenditure as a result of the recession. In order to maintain a balanced budget, the government can either increases taxes are reduce expenditure.

When taxes are increased, disposable income falls and this causes aggregate demand to fall

4 0
3 years ago
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