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Aleksandr [31]
3 years ago
15

Seller offers to sell her home to a purchaser for $70,000.00. The purchaser responds that she will buy the home for $60,000.00.

The seller refuses the purchaser’s offer to buy for $60,000.00. The purchaser then, after that refusal, offers to buy the home for $70,000.00. At this time, what is the legal relationship of the parties
Business
1 answer:
nikklg [1K]3 years ago
8 0

Answer:

The answer is: The buyer made an offer to purchase the home for $70,000

Explanation:

When the seller offered to sell his home for $70K, but the buyer only offered $60K, the original offer was discarded, so no legal relationship was established.

When the buyer later offers to buy the home for $70K, a new offer is made creating a legal relationship only if the selling party accepts the offer.

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Explanation:

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Refer to the following transactions.
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Answer:

1 a) + asset , + preferred stock

b) + asset , + preferred stock

c) + assets , + stockholder's equity

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e) + -Asset

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journal entry

a) Debit bank 700000 Credit Preferred stock 700000

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