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nadezda [96]
3 years ago
12

Katherine mailed Paul an offer with definite and certain terms and that was legal in all respects stating that it was good for10

days. Two days later she sent Paul a letter by certified mail (time stamped by the Postal Service at 1:14 PM.) stating thatthe original offer was revoked. That evening Paul e-mailed acceptance of the offer to Katherine. She immediately phonedhim to tell him that she had revoked the offer that afternoon, and he would surely receive it in tomorrow’s mail. Was theoffer revoked by Katherine?
Business
1 answer:
jok3333 [9.3K]3 years ago
5 0

Answer:

The correct answer is : Yes, the offer was revoked by Katherine.

Explanation:

Even if Paul replied Katherine with the acceptance to the first offer, he used a different means of communication to do that -<em>e-mail v. mail</em>. In addition, Katherine sent the revoke by mail -<em>as in the initial offer</em>- before Paul sent his e-mail. So, there is enough proof on Katherine's end that she didn't want to proceed with the offer before Paul confirmed his agreement on the terms. In that sense, Katherine did revoke the initial order.

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<u>Solution and Explanation:</u>

Installment Receivables (Net) of $2,905,600

Basis  Particulars                                         Debit  Credit

Sale:-  Instalment Receivables  $5,000,000  

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Payment:-  Cash                         $4,90,000  

Instalment Receivables                                     $4,90,000

Deferred Gross profit                 $165,600  

Realised Gross profit                                              $165,600

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