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
svp [43]
3 years ago
7

Julius asks Rachel if she would like to sell her boat. Rachel privately has no interest in selling her boat, and believes that J

ulius can't afford her boat anyway. Rachel says, "I'd sell my boat to you for $400." To Rachel's surprise, Julius responds "Ok, it's a deal." Rachel does not want to sell the boat to Julius for any price. Julius and Rachel have_______________________.
Business
1 answer:
katrin [286]3 years ago
8 0

Answer:

formed a valid contract because Rachel's outward expressions showed the formation of a contract.

Explanation:

In contract, outward expressions refers to a situation when both parties has directly communicate the terms of a certain transaction and agreed upon it.

The contract is considered as 'valid' and considered to be a verbal agreement as soon as Rachel proposed a price and Julius agreed upon it.

One thing to remember, Even though this contract is considered as valid , it would be hard for Julius to held Rachel accountable to court since he has no way to proof that the verbal agreement has been made.

You might be interested in
I WILL MARK BRAINLIEST IF CORRECTHow does the value of the cars produced by the Japanese company within the United States impact
goblinko [34]

Answer:The value of cars produced by a Japanese company are part of United States Gross Domestic Product (GDP) as long as the cars are produced in a factory located within U.S. territory.

The reason why is that GDP includes the final value of all goods and services produced within a country, during a specific period of time (usually a year). If the cars are produce in U.S. territory, they are counted as part of U.S. GDP, even if the company is from Japan or any other country.

Explanation:

8 0
3 years ago
Havermill Co. establishes a $460 petty cash fund on September 1. On September 30, the fund is replenished. The accumulated recei
frozen [14]

Answer:  Debit Petty cash $408; Credit Cash $408.

Explanation: Petty cash is a small amount of fund set aside for immediate or urgent minor expenses. In most organizations, there is a limit to the petty cash amount that a business unit can have. And someone is always saddled with the responsibility of managing the fund. It has its business rule in the sense that the amount should not be withdrawn beyond zero balance to throw it into debit.

In the instance of the question, the petty cash is $460 and within September, total expenses of $316 were incurred and paid for, leaving a balance of $144. However, the accountant determines that this cash should be increased by $92 on 1 October, so reimbursement to the fund would be the amount already spent ($316) and the proposed increment ($92), making $408.

5 0
3 years ago
A company had sales revenue of $900,000 for the year. In addition, the following information is available related to the cost of
Y_Kistochka [10]
I uploaded the answer
7 0
2 years ago
Total quality management theorizes that if workers are more responsible, they will
sleet_krkn [62]

Answer:

the answer is A, hope i helped (:

a. increase overall quality

Explanation:

3 0
3 years ago
Read 2 more answers
hich of the following statements is CORRECT? (A) One advantage of corporations is that they avoid double taxation. (B) One advan
DerKrebs [107]

Answer: (C) One advantage of an LLC is that its owner has only limited liabilities.

Explanation:

A Limited Liability Company (LLC) has the main advantage of its owners having only a limited liability when it comes to debts and liabilities. This is because the LLC is a bit of a mixture between a partnership and a corporation.

This mix results from the fact that LLCs are formed by partners but their personal assets will be separated from the business like in Corporations which means that in case of default, only the assets they brought into the business will be targeted.

8 0
3 years ago
Other questions:
  • What activity does marketing begin
    15·1 answer
  • Direct labor cost is classified as: Conversion cost Prime Cost A) Yes Yes B) No No C) No Yes D) Yes No Choice A Choice B Choice
    8·1 answer
  • Felicia knits scarves and sells them to her friends. The first week, she knits four scarves and sells three for $50 each. The ne
    15·2 answers
  • Which type of investment would be an example of an investment at point B? a US savings bond a CD a stock a savings account
    13·2 answers
  • Markel Inc. has bonds outstanding during a year in which the general (risk-free) rate of interest has not changed. Markel electe
    8·1 answer
  • Competitive firms differ from monopolies in which of the following ways? (i) Competitive firms do not have to worry about the pr
    5·1 answer
  • 5. Risk analysis in capital budgeting Projects differ in risk, and risk analysis is a critical component of the capital budgetin
    9·1 answer
  • An example of a loan that tends to have a lower interest rate is a(n) __________ loan.
    8·2 answers
  • From an information-processing approach, the memory process has three major steps. what is the correct order of this process, be
    6·1 answer
  • Derek plans to retire on his 65th birthday. However, he plans to work part-time until he turns 75.00. During these years of part
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!