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-BARSIC- [3]
3 years ago
12

John Freeden is negotiating with Bill Murray to buy Bill's mountain bicycle. The following conversation has taken place: John: "

I will buy your mountain bike for $325.00." Bill: "I couldn't sell it for less than $375.00." John: "I'll take it for $375.00." Which of the following statements is true?
A) Bill and John have a contract for the sale of the bike at $375.00
B) Bill and John have a contract for the sale of the bike at $325.00.
C) Bill and John do not have a contract.
D) None of the above
Business
1 answer:
aliya0001 [1]3 years ago
5 0

Answer:

A) Bill and John have a contract for the sale of the bike at $375.00

Explanation:

John first made an offer to buy the bike at $325 ⇒ Bill responded with a counteroffer increasing the price of the bike ⇒ John accepted Bill's counteroffer ⇒ they have a binding contract.

When parties are bargaining a contract, the process of giving an initial offer and then a counteroffer (or counteroffers) is part of the process of forming a contract. It is a necessary part, since without this bargaining process there is no contract. A contract is formed when one of the parties accepts the other party's offer or subsequent counteroffer.

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3 years ago
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Alex17521 [72]

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True

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2 years ago
Manuel borrowed a total of $4000 from two student loans. One loan charged 4% simple interest and the other charged 3.5% simple i
hichkok12 [17]

Answer:

the principal amount at a rate of 4% is 2000

principal amount at a rate of 3.5% is 4000-2000 =2000

Explanation:

We have given total amount borrowed = $4000

Let x amount is borrowed at a rate of 4%

So $4000-x is borrowed at rate of 3.5%

Total interest = $150

We know that simple interest =\frac{principal\ amount\times rate\times time}{100}

So \frac{x\times 4\times 1}{100}+\frac{(4000-x)\times 3.5\times 1}{100}=150

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3 years ago
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