1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Mamont248 [21]
3 years ago
11

On October 25, 1989, Mina Loy sent a letter to Carl Van Vechten which said, "I hereby offer to hire you to paint my house for $4

,000 during Thanksgiving break. Your acceptance of this offer must be by first-class mail and must reach me no later than noon on November 1, 1989." Vechten was so excited when he received her letter that he telephoned Loy on October 26 and said "I accept." Which of the following is a true statement?
A.
There is a valid acceptance and a binding contract because the telephone call was a reasonable means of acceptance.

B.
There is no acceptance and no contract in this situation as it is clearly mentioned by the offeror that the acceptance must be by mail.

C.
There is a valid acceptance and a binding contract because the telephone call was an authorized means of acceptance.

D.
There is a valid acceptance and a binding contract because the telephone call was a faster means of acceptance than the mail.
Business
1 answer:
Sindrei [870]3 years ago
3 0

<u>Answer: </u>Option B

<u>Explanation:</u>

There is no acceptance and no contract in this case. Mina Loy's written offer letter states clearly that the acceptance has to be made through first class mail. The terms of the offer were not fulfilled by Carl Van Vechten as he did not perform the acceptance as per the condition mentioned in the offer.

As there is no valid contract the parties to the contract that is Mina Loy and Carl Vechten are not obliged to perform their obligations as promised.

You might be interested in
If there are no excess reserves in the banking system and the Fed lowers the required reserve ratio, it follows that banks will
blagie [28]

Answer:

Excess reserves

Explanation:

Money supply in the economy is regulated by the central bank of Federal Reserve through various methods.

One of them is the use of reserve ratio.

Reserve ratio is the percentage of total deposit in a bank that commercial banks are required to keep aside and not use.

If there is no excess reserves and the Fed lowers required reserve ratio, it means banks will now have more money they can use to service customers.

The excess excess of the reserve can now the used to give out loans

3 0
3 years ago
Do you think that their economy will be strong when they have to write off debt from countries that have borrowed heavily from t
Kobotan [32]

Answer:

Yes

Explanation:

7 0
3 years ago
(consider this) suppose that a large tree on betty's property is blocking chuck's view of the lake below. betty accepts chuck's
Umnica [9.8K]

The correct answer is the Coase theorem

Suppose that a large tree on Betty's property is blocking Chuck's view of the lake below. Betty accepts Chuck's offer to pay Betty $100 for the right to cut down the tree. This situation describes the Coase theorem.

5 0
3 years ago
The trading principle formulated by adam smith maintained that:
erma4kov [3.2K]
The correct answer is D. Absolute cost differences regulate the immediate basis for trade
Absolute gain is the ability of a country, separate, company or region to make a good or service at a lower cost per unit than the cost at which any other individual produces that same good or service.
6 0
3 years ago
Fleming Company has the following cumulative taxable temporary differences: 12/31/18 12/31/17 $1,600,000 $2,250,000 The tax rate
jeyben [28]

Answer:

Pretax financial income is $3,350,000.00

Explanation:

Fleming's pretax financial income is the taxable income for 2018 plus the increase in cumulative taxable temporary difference in 2018.

Taxable income is $4,000,000

Difference in cumulative  taxable difference=$1,600,000-$2,250,000

                                                                        =-$650,000

pretax  financial income=$4,000,000+(-$650,000)

                                                    =$4,000,000-$650,000

                                                    =$ 3,350,000.00  

The pretax financial income for year 2018 is  $3,350,000.00  

7 0
3 years ago
Other questions:
  • Elena wants to open a Chinese restaurant near a university. She has the required capital to start her restaurant. However, she i
    5·2 answers
  • Doreen is a cosmetic sales person. her commission rate is 13 1/2%. if her monthly sales was $4,230.00 what was her monthly commi
    9·1 answer
  • Draw a supply curve of smartphones. Label it. Use any prices and quantities you wish but make your supply curve obey the law of
    15·2 answers
  • Do consumers benefit in any way from monopolistic competition relative to perfect​ competition? compared to perfect​ competition
    14·1 answer
  • The best defensive driving strategy in planning ahead for an evasive action on the road includes:
    15·1 answer
  • In regard to Project Work, which activity refers to reviewing the progress and capturing project performance data with reference
    5·1 answer
  • List at least three tools or services that are available when you open a savings account.
    5·1 answer
  • Borland, Inc. issues 25-year semi-annual bonds that have a face value of $1,000 and a coupon rate of 7.5%. The current market pr
    14·1 answer
  • What do you prefer local fundraising or global fundraising and why? (just one reason)
    13·2 answers
  • What makes a business unique
    12·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!