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Bess [88]
4 years ago
6

Scheming Friends.Willy very much wants to rent a basement apartment in Weaver's home.Willy threatens to tell all Weaver's friend

s that he and Weaver had been arrested for illegally smoking marijuana unless Weaver rents the apartment to him for $100 per month.Weaver reluctantly agrees to rent the apartment to Willy for that amount.Willy also wants to buy Weaver's car.Weaver runs back the odometer on the car before Willy test-drives it.Willy is impressed by the low mileage and agrees to buy the car.Finally,Weaver offers to sell Willy a ring for Willy's fiancée.Weaver tells Willy that the ring is a diamond and believes that to be true.After the deal is made,however,a jeweler friend of Weaver's informs him that the ring is a fake.When Willy shows up with the money,Weaver says nothing.He just hands Willy the ring and takes the money.Later,Willy finds out that the odometer was run backwards from another friend to whom Weaver confided.Willy also finds out from his girlfriend that the ring is a fake.Which of the following is true regarding Willy's agreement to purchase the ring?
A) He will not be able to rescind the contract because Weaver did not make an express false statement regarding the ring.
B) He will not be able to rescind the contract because Weaver did not make an express false statement regarding the ring and because Weaver did not know the ring was a fake when the initial agreement was made.
C) He will not be able to rescind the contract unless he can prove that Weaver was at least negligent in not realizing the ring was a fake when the initial agreement was made.
D) He will be able to rescind the agreement because Weaver caused him duress.
E) He will be able to rescind the agreement because Weaver committed fraudulent misrepresentation.
Business
1 answer:
Lana71 [14]4 years ago
6 0

Answer:

E) He will be able to rescind the agreement because Weaver committed fraudulent misrepresentation.

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e. Sunk cost.

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Following are the solution to this question:

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By IAS 1 — Annual Report presentation, 3 concepts were all first consideration, its second consistency as well as the third reporting framework related to investment based that can be define as follows:

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The financial statement effects template records Lowe's purchases for the fiscal year ended February 28, 2019 as follows:

Transaction        Assets                       =   Liabilities   +   Equity

Purchases          $0       +   $49,569    =   $49,569     +    $0

                          Inventory                         Accounts Payable

The accounts equally affected by the purchases on account are the Inventory and the Accounts Payable.

Data Analysis:

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Thus, with the purchases of merchandise during the fiscal year at a cost of $49,569, the Assets (inventory) and Liabilities (accounts payable) are increased by the same amount.

Related question on the financial statement effects at brainly.com/question/16362041

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