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QveST [7]
3 years ago
11

Larson entered Forrester's Auto Mart to purchase a used car. Larson found a vehicle with a sales price of $11,000. After Forrest

er answered all of Larson's questions, Forrester and Larson agreed to a sale. As Larson was leaving to get the money to pay for the car, Forrester told Larson that he thought Robert Redford formerly owned the car. Larson later learned that Robert Redford had never owned the car. If Larson seeks to rescind the deal based on Forrester’s statement, Larson wil:
a. win because he relied on the misrepresentation.b. win because there was a misrepresentation of a material fact.c. lose because he will not be able to prove reliance on the misrepresentation.d. lose because Forrester made a unilateral mistake.
Business
1 answer:
RideAnS [48]3 years ago
5 0

Answer:

The answer is: C) lose because he will not be able to prove reliance on the misrepresentation.

Explanation:

In order for Larson to be able to rescind the contract, he would have to prove that he had reasonable reliance that Robert Redford owned that specific car. Reasonable reliance refers to a person believing something to be a fact, which any other person could reasonably believe in as well.

But exactly how could he prove that someone else might also believe that the car was previously owned by Robert Redford? I find it very doubtful that he can prove that.

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Stern Corporation's management wants to maintain a minimum monthly cash balance of $8,000. At the beginning of September, the ca
krek1111 [17]

Answer:

Stern must borrow 13,530dollars at least to achieve is minimum monthly cash balance.

Explanation:

beginning cash balance:             $  12, 270

cash receipts                               $  97,200

cash disbursements              <u>      $(115,000)   </u>

cash balance before financing:  $   (5,530)

minimun balance required          $    8,000

financing requirement: 8,000 - (-5,530) = 8,000 + 5,530 = 13,530

7 0
3 years ago
Use the following information for Exercises 8-9 below. (Static)[The following information applies to the questions displayed bel
Ipatiy [6.2K]

Answer:

The requirements are missing, so I looked for similar questions. You should make any necessary adjusting entries on the accounting equation. Since there is not enough room here, I used an excel spreadsheet.

Download pdf
6 0
3 years ago
For each of the following items before adjustment, indicate the type of adjusting entry (prepaid expense, unearned revenue, accr
igor_vitrenko [27]

Answer:

See explanation

Explanation:

(a) Assets are understated - If we do not adjust accrued revenue, the assets are understated. For example - if we do not add any outstanding rent revenue, the assets will become understated.

(b) Liabilities are overstated - If we do not adjust unearned revenue, the liabilities are overstated. For example - if we do not deduct any expired unearned revenue, the liabilities will become overstated.

(c) Liabilities are understated - If we do not adjust accrued expense, the liabilities are understated. For example - if we do not add any outstanding rent expense, the liabilities will become understated.

(d) Expenses are understated - If we do not adjust accrued expense and prepaid expense, the expenses are understated. For example - if we do not add any outstanding rent expense and expired prepaid expenses, the expenses will become understated.

(e) Assets are overstated - If we do not adjust prepaid expense, the assets are overstated. For example - if we do not deduct any expired prepaid insurance, the assets will become overstated.

(f) Revenue is understated - If we do not adjust accrued revenue and unearned revenue, the revenue is understated. For example - if we do not add any outstanding rent revenue and expired unearned revenue, the revenue will become understated.

3 0
3 years ago
Parole violators account for more than half of prison admissions in many states.
Evgen [1.6K]

This is true Parole violators account for more than half of prison admissions in many states Parole is a popular sentencing option.

8 0
3 years ago
Reuben forces his way into the house of an elderly couple. He tells the lady that if she does not help him in carrying out a ban
Paul [167]

Answer:

Duress/Coercion/Compulsion

Explanation:

Duress or Coercion or Compulsion: This type of defense involves someone else threatening to use force or violence to get you to do something against your better judgment. Essentially, it means you were forced to commit a crime. In this case, Reuben want to entangle the elderly lady into the crime of bank heist by threatening to shoot her husband.

For a defense of Duress/Coercion/Compulsion: the person must be forced to commit the offence. The person under duress (illegal coercion usually through being threatened or the use of violence) must be present when the offence is committed. The person must believe that the threat will be carried out.

4 0
3 years ago
Read 2 more answers
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