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Bas_tet [7]
3 years ago
13

Kelly tells Matthew that she will sell him one of her motorcycles at some time in the future. Matthew eagerly accepts. Do they h

ave a valid contract?
Business
1 answer:
WINSTONCH [101]3 years ago
3 0

Answer:

Probably not, because the terms are not definite.

Explanation:

A contract is considered to be valid when there is a written or expressed agreement for one party to deliver goods or services to another.

The terms are clearly stated. For example the price, time of sale, acceptance of price, and so on.

A valid contract has the following elements: offer, acceptance, agreement, and consideration.

In the given scenario where Kelly tells Matthew that she will sell him one of her motorcycles at some time in the future and Matthew eagerly accepts. There is an agreement but there is no specific offer and consideration of price and also the time of transaction.

So the contract is probably not valid because terms are not clearly defined.

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You are thinking about buying a piece of art that costs $ 20 comma 000. The art dealer is proposing the following​ deal: He will
Irina-Kira [14]

Answer:

Explanation:

This is an annuity question. You can solve this using a financial calculator with the following inputs;

Present value ; PV = -20,000

Duration; N = 15 payments

2 year interest rate; I = [(1.07)^2 ] -1 = 14.49%

One-time future cashflow; FV = 0

Then compute recurring payment ; CPT PMT = $3,336.28

Therefore, you'll pay $3,336.28 every 2 years

3 0
3 years ago
Hey um hi if you need help leeme know ig ·ω·
choli [55]
Answer: Okay that’s good lol and same here too
5 0
2 years ago
Read 2 more answers
Sonic Inc. manufactures two models of speakers, Rumble and Thunder. Based on the following production and sales data for June, p
photoshop1234 [79]

Answer:

                                       SONIC INC.

                                     SALES BUDGET

                        FOR THE MONTH ENDING JUNE 30

Product and Area   Unit sales volume   Unit selling Price  Total sales

<u>Rumble</u>

Midwest Region           12,000                      $160                  $1,920,000

South Region                <u>14,000</u>                      $160                 <u>$2,240,000</u>

Total                              <u>26,000</u>                                               <u>$4,160,000</u>

<u>Thunder</u>

Midwest Region          3,500                         $200                  $700,000

South Region               <u>4,000</u>                        $200                   <u>$800,000</u>

Total                              <u>7,500</u>                                                    <u>$1,500,000</u>

Total Revenue from sales = $4,160,000  + 1,500,000 = 5,660,000

2.                                                SONIC INC.

                                      PRODUCTION BUDGET

                               FOR THE MONTH ENDING JUNE 30

                                                      UNITS RUMBLE       UNITS THUNDER

Expected unit to be sold                  26,000                           7,500

Add: Desired Inventory June 30      <u>  500 </u>                             <u> 250</u>

Total                                                   26,500                            7,750

Less: Estimated Inventory June 1     <u>   750  </u>                           <u>  300</u>

Total units to be produced              <u> 25,750</u>                          <u> 7,450</u>

7 0
3 years ago
A company's board of directors votes to declare a cash dividend of $1.20 per share of common stock. The company has 24,000 share
katen-ka-za [31]

Answer:

$22,200

Explanation:

Shares is a method through which firms raise capital.

Authorised shares are the maximum number of shares a company can issue to investors

Outstanding shares are the total number of shares sold to investors . It is only outstanding shares that receive dividend payment.

Issued shares are the shares that a company issues

cash dividend = $1.20 x 18,500 = $22,200

3 0
3 years ago
California Inc., through no fault of its own, lost an entire plant due to an earthquake on May 1, 2018. In preparing its insuran
Veronika [31]

Answer:

estimated inventory is $395000

C is correct option

Explanation:

given data

Inventory = $300000

sales = $1300000

purchases = $875000

gross profit = 40%

to find out

estimated inventory

solution

we find estimated inventory by this formula

estimated inventory = Inventory + purchases  - (100% - 40%)sale

put here all value

estimated inventory = 300000 + 875000 - (100% - 40%)1300000

estimated inventory = 300000 + 875000  - 780000

estimated inventory = 395000

so estimated inventory is $395000

C is correct option

6 0
3 years ago
Read 2 more answers
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