Question Completion:
a. List the 3 elements of an offer and describe each (in your own words).
b. Did Precious Jewelry make an offer when they placed the ad in the magazine? Did Sharon make an offer when she placed the order? Why or why not?
c. What will be the likely outcome if Sharon sues Precious Jewelry to force them to fill her order? Explain your answer.
Answer:
a. The three elements of a valid offer are Communication, Commitment, and Definite Terms. Communication of an offer should be between the offeror and the offeree and not with the general public. Commitment in an offer requires that the two parties are identified and are committed to the exchange of offer and acceptance. Definite terms means that the terms of the offer must be clear and well-understood by the involved parties.
b. Precious Jewelry did not make an offer when it placed the ad in the magazine. The ad was an invitation to offer. Sharon was the party that made the offer when she ordered for the jewelries. It was then left for Precious Jewelry to accept or reject the offer.
c. If Sharon sues Precious Jewelry to force them to fill her order, she does not have the locus standi because there is no basis for the existence of a contract between Sharon and Precious Jewelry since Sharon's offer was not accepted by Precious Jewelry and there was no consideration.
Explanation:
For a valid contract to exist between Sharon and Precious Jewelry, the five elements of a contract must be present. They include valid offer, acceptance, mutual consent (or assent), consideration, and legality (including capacity).
Answer:
Option A is correct
Explanation:
R = [P*(r/12)]/[1-(12/(12+r))]^(12*r)
t = time = 25 years
P = initial principal = 125000
R = initial interest rate = 9.75
So therefore:
R = 125000* (0.0975/12)/[ 1 - (12/(12+0.975)]^(300)
R = 1015.625/(1-0.088)
R = $1113.62 per month
Compounding R for the first five years = 6205.4
Balance = 125000 - 6205.4 = 118792.7
So therefore with the new rate = 8.75
New P = 118792.7
t = 20
R = 118792.7*(0.0875/12)/[1- (12/(12+0.0875))^(240)]
R = 866.197/0.825
R = 1049.93 = $1050
Answer:
His bank, if it is a large international bank.
Explanation:
Herrick needs to go to his bank that has international operations to get more stable rates for his international business.
International banks have corresponding banks they operate with for international transactions. A major advantage of this is that eachange rates between banks and their corresponding banks are more stable and not prone to huge fluctuations.
This will be the best option for Herrick.
Answer:
$1.62billion ; $1.82billion
Explanation:
According to amended S-1 filed November 4, 2013, the estimated amounts of net proceeds to be received by the company after the offering, excluding and including the over-allotment option is $1.62billion or approximately $1.86billion if the underwriters fully exercise their option to purchase additional stock. The standard initial public offering price is assumed to be $24 per share.
goes on to explain that the main reason for this offering is to optimize their financial flexibility and capitalization, as well as to make their common stock available to the public. Net proceeds from the offering would also be fully utilized in facilitating their working expenses as well as funding business and taxation expenses.
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