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Alekssandra [29.7K]
4 years ago
10

Douglas County sought bids for a construction project. Robert Taggart wanted to submit a bid but knew the project needed rock. H

e talked with some owners of a rock source and was told the rock was for sale but the price could not be determined until the other owner was consulted. Taggart prepared an incomplete bid, told his bookkeeper to get the rock price and complete the bid. Taggart left on vacation. The bookkeeper did so and submitted the bid. The bids were opened. Taggart’s bid was the lowest, but it was learned later that day that the rock was longer for sale. The next day the bookkeeper delivered a written bid withdrawal to the county. The county subsequently awarded the contract to Taggart.
Required:
Is there a contract? If so, what aspect of contract law might apply here? If not, why?
Business
1 answer:
Jet001 [13]4 years ago
4 0

Answer:

No, there is no contract between the two parties because of withdrawal of offer (Revocation) before the acceptance of the other party.

Explanation:

When one party offers another party and after some time the offer maker withdraws the offer by communicating that they had revoked then the offer is no more available to the other party and is often termed as Revocation. So when the offer maker revokes before the acceptance of the offer by the other party then their is no offer at consideration to the other party, which means if there is no offer then their can not be an acceptance of an offer and of course when there is no acceptance then there is no contract.

The communication of revocation was held before the acceptance of the offer of the other party which agains says that the contract was not actually formed.

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Wyly Inc. produces and sells a single product. The selling price of the product is $225.00 per unit and its variable cost is $90
svlad2 [7]

Answer:

Option (C) is correct.

Explanation:

Contribution per unit:

= selling price - variable cost per unit

= $225 - $90

= $135 per unit

Break-even in (Units):

= fixed expense ÷ Contribution per uni

= 354,060 ÷ 135

= 2622.67

So, Break-even in Sales:

= Break-even units × selling price

= 2622.67 × $225

= $590,100

Therefore, the break-even in monthly dollar sales is closest to $590,100.

5 0
3 years ago
Diz Co. is a U.S.-based MNC with net cash inflows of euros and net cash inflows of Swiss francs. These two currencies are highly
VikaD [51]

Answer:

Yanta Co. has a higher exposure to exchange rate risk than Diz Co.

The reason is that Yanta Co. does not have net inflows of euros.  Instead, its euro transactions yield net outflows.

It will always be in need of euros to settle its foreign debts or obligations, unlike Diz Co. with foreign assets.

Explanation:

a) Data and Analysis:

Diz Co. has net cash inflows of euros and net cash inflows of swiss francs

Yanta Co. has net cash outflows of euros and net cash inflows of swiss francs

b) Exposure to exchange rate risk or currency risk is the financial risk arising from fluctuations in the value of the US dollars against the Euro or Swiss Francs in which Diz Co. has some foreign assets while Yanta Co. has foreign obligations.

5 0
3 years ago
How is a job different from a career?
elena-14-01-66 [18.8K]

Explanation:

A job is something that you do for pay or money. On job, you do a specific set of tasks according to your job title. Whereas a career is a series of jobs or occupation that you do throughout your life. Series of jobs make your career.

Now in this question, is Amelia wants to open up her own day care center, she should join an internship program at a well organized day care center while studying, in order to have a first hand knowledge about baby sitting and the requirements of opening and operating a day care. This would give her idea about some minute details of the day care center and will make her settling her career easily.

8 0
3 years ago
In economics, what is logrolling?
statuscvo [17]
B. The trading of favors.
7 0
3 years ago
g The perfectly competitive firm faces a downward sloping demand curve. a horizontal supply function. perfectly elastic demand.
egoroff_w [7]

Answer:

Option C (perfectly elastic demand) seems to be the correct alternative.

Explanation:

  • Large companies manufacture similar products which cannot be separated from those manufactured by certain rivals.  
  • Price increases become decided on the market as well as firm price changes, marketing their production at either the current market value. Increasing organizations face a relatively elastic consumer surplus equivalent to something like the sale value.  

All other alternatives in question are not relevant to the unique scenario. But that's the correct answer above.

6 0
3 years ago
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