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egoroff_w [7]
3 years ago
9

12–2. Offer and acceptance. Schmidt, the owner of a small business, has a large piece of used farm equipment for sale. He offers

to sell the equipment to Barry for $10,000. Discuss the legal effects of the following events on the offer: (See page 249.)
Business
1 answer:
Fiesta28 [93]3 years ago
5 0

Answer:

Schmidt, the owner of a small business, has a large piece of used farm equipment for sale. He offers to sell the equipment to Barry for $10,000. Discuss the legal effects of the following events on the offer:  

• Schmidt dies prior to Barry’s acceptance, and at the time he accepts, Barry is unaware of Schmidt’s death.  

• The night before Barry accepts, fire destroys the equipment.  

• Barry pays $100 for a thirty-day option to purchase the equipment. During this period, Schmidt dies, and later Barry accepts the offer, knowing of Schmidt’s death.  

• Barry pays $100 for a thirty-day option to purchase the equipment. During this period, Barry dies, and Barry’s estate accepts Schmidt’s offer within the stipulated time period.

Explanation:

A contact is a binding agreement between two or more people.

Schmidt dies prior to Barry’s acceptance, and at the time he accepts, Barry is unaware of Schmidt’s death: Schmidt's death would normally null this offer but because Barry is unaware of his death at the time of acceptance, and the offer is not for a personal service, the offer holds.

The night before Barry accepts, fire destroys the equipment: there is no binding contract before a buyer accepts an offer.  

Barry pays $100 for a thirty-day option to purchase the equipment. During this period, Schmidt dies, and later Barry accepts the offer, knowing of Schmidt’s death: The option keeps the offer alive regardless of Schmidt’s death as long as Barry paid for the option .

Barry pays $100 for a thirty-day option to purchase the equipment. During this period, Barry dies, and Barry’s estate accepts Schmidt’s offer within the stipulated time period: the death of the offeree, in this case Barry, would normally nullify the offer but due to the option and the acceptance within the stipulated time,  the offer holds.

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2. Low and predictable levels of inflation.

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The Fed monitors and manages Interbank transfers to protect the financial system.

4. Management of Macroeconomic fluctuations.

- The Fed just embarked on monetary policy to correct the Economy. This was a Macro Economic function as it dealt with the entire economy as a whole.

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3 years ago
Cosmo has just made his dream come true of buying the property that his restaurant occupies. His excitement is short lived, howe
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Realistic aspect

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The government regulates financial markets for two main reasons: A. to ensure that financial intermediaries do not earn more tha
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A production department's output for the most recent month consisted of 8,000 units completed and transferred to the next stage
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e. 10,500 units.

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<em>the equivalent units of production - direct materials</em>

<em>Note : Units in ending Work in Process inventory were 50% complete with respect to direct materials</em>

units in ending Work in Process inventory (5,000×50%)                = 2,500

units completed and transferred to the next stage (8,000×100%  = 8,000

Total                                                                                                    = 10,500

<em>the equivalent units of production - conversion costs</em>

<em>Note : Units in ending Work in Process inventory were 50% complete with respect to conversion costs</em>

units in ending Work in Process inventory (5,000×50%)                = 2,500

units completed and transferred to the next stage (8,000×100%  = 8,000

Total                                                                                                    = 10,500

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Based on the given scenario the type of the lease xyz company sign is called double net lease as they have to pay for property's real estate taxes  as well premiums for insuring the building.

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Learn more about  double net lease here:brainly.com/question/14244511

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