1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Alex777 [14]
3 years ago
6

Business law professor Debby needed some yard work done. She told her class that she would give $50 to the first person who mowe

d her yard. She also entered into an agreement with Brenda to trim some shrubbery for $40. Max went to mow Debby's yard. Unfortunately, just as he finished mowing, a neighborhood dog bit him and he had to go to the emergency room for a couple of stitches. Debby refused to pay Max on the basis that the agreement was not in writing and that Max ended up being more trouble than he was worth. Max refused to pay the emergency room because he said that they did not have a binding, bilateral contract. Brenda refused to trim the shrubbery because she got a better offer and claimed that she was not bound by the contract until she started to perform.
Which of the following is an appropriate characterization of the agreement between Debby and Max?

A. They had a bilateral, express agreement.
B. They had a bilateral, implied agreement.
C. They had a bilateral and unilateral agreement.
D. They had a unilateral, express agreement.
E. They had a unilateral, implied agreement.
Business
1 answer:
Bad White [126]3 years ago
5 0

Answer:

D) They had a unilateral, express agreement.

Explanation:

In a unilateral contract, the offeror makes an express promise without a reciprocal agreement from another party. The offeror's express promise of payment requires that the other party performs.

In this case, professor Debby made an express promise to pay $50 to anyone that mowed her yard, and Max performed the yard mowing, therefore he is entitled to payment.

You might be interested in
Fernwood Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is
blsea [12.9K]

Answer:

a. $61,500

Explanation:

Calculation for the amount of cash paid for

dividends

Using this formula

Dividend amount=Cash dividends payable at the beginning of the year +Dividend declared during the period - Cash dividends payable at the end of the year

Let plug in the formula

Dividend amount =$30,250+$68,750-$37,500

Dividend amount =$61,500

Therefore the amount of cash paid for

dividends will be $61,500

4 0
4 years ago
On July 4, Blossom's Restaurant accepts a Visa card for a $150 dinner bill. Visa charges a 2% service fee. Prepare the entry on
Tpy6a [65]

Answer:

The journal entry is shown below.

Explanation:

According to the scenario, the journal entry for the given data are as follows:

Journal entry

Jul.4 Cash A/c Dr    $147

        Card charges A/c Dr.   $3

        To Sales revenue A/c   $150

(Being card transaction is recorded)

Computation:

Cash = $150 - 2% × $150 = $147

Card charges = $150 × 2% = $3

3 0
3 years ago
A store and a bank would both charge fees for _____.
horsena [70]
"Bouncing a check
When a check is deposited in a bank, or when it is written out to a store teller to ultimately deposit in the store bank, the funds are tracing back from an origin bank account. When the check bounces a fee is then charges by both the bank out of which the check is written (for non-sufficient funds) and by the payee. If the payee is a store they will often charge fees that are charged back to them by their bank of deposit."
7 0
3 years ago
Comparative financial statements for Heritage Antiquing Services for the fiscal year ending December 31 appear below. The compan
CaHeK987 [17]

Answer:

1) Gross margin percentage = Gross margin / Net Sales

= $28,000 / $70,000

= 0.40

= 40%

2) EPS = Net earning available to common stockholders / Number of common stocks

EPS = $5,454 / 500 shares

EPS = 10.91

3) Price earning ratio = Market value / EPS

Price earning ratio = $27 / 10.91

Price earning ratio = 2.48

4) Dividend payout ratio = $375 / $5,454

= 0.068

= 6.9%

5) Dividend yield ratio = Dividend per share / Current price

= 0.75 / $27

= 0.02777778

= 2.8%

6) Return on total asset = Net income / Average total asset

= $5,514 / {($74,678 + $68,659) / 2}

= $5,514 / $71668.5

= 0.0769376

= 7.7%

7) Return on common stock holder equity = Net income / Average common stockholder equity

= $5,514 /{ {($45,178 - $1,000) + ($40,099 - $1,000)} / 2}

= $5,514 /{($44,178) + ($39,099) / 2}

= $5,514 / $41638.5

= 0.13242552

= 13.2%

8)Book value per share = Common stockholder equity / Number of common stock equity

= $44,178/ 500

= $88.36

3 0
4 years ago
When the turbine generators are turning from the steam, what do they produce?
SIZIF [17.4K]
Elctricity........as they turn or rotate,magnetic field is produced that produced electricity
4 0
3 years ago
Other questions:
  • The Fremont Company uses the weighted-average method in its process costing system. The company recorded 32,500 equivalent units
    7·1 answer
  • If we examine aids in thailand, it appears the most common means of transmission is:
    13·1 answer
  • Hueblue software, an application provider to the gaming industry, decided to enhance its portfolio by developing motion-control-
    10·1 answer
  • Don’s Fashions is noticing a downward trend in sales. The company has been reaching out using social media to connect with custo
    12·1 answer
  • Elmo wrote Kris a check for $601.73, and Kris deposited the check into her checking account. Where was Kris' signature?
    11·2 answers
  • On January 1, Year 1, Marino Moving Company paid $48,000 cash to purchase a truck. Marino planned to drive the truck for 100,000
    13·1 answer
  • On January 1, 2017, Grand Haven, Inc., reports net assets of $945,300 although equipment (with a four-year remaining life) havin
    5·1 answer
  • James borrows $300,000 for a home from Bank A. Bank A resells the right to collect on that loan to Bank B. Bank B securitizes th
    14·1 answer
  • The most important, most convenient, and most flexible way in which the Federal Reserve affects the supply of bank reserves is t
    12·1 answer
  • White Company's wages payable account had a beginning balance of $3,757 and an ending balance of $2,070. During the year, wages
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!