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ryzh [129]
3 years ago
8

Ed, a businessperson, is a friend of Fran, the owner of a Percolated Coffee & Baked Goods store. Every day, Ed spends five m

inutes in Fran’s store, looking at the goods and usually buying one or two cinnamon buns or bagels. One afternoon, Ed goes into the store, looks at the items, and picks up a $1 chocolate brownie. Ed waves the brownie at Fran without saying a word and walks out. Is there a contract? If so, how would it be classified in terms of formation, performance, and enforceability?
Business
1 answer:
ch4aika [34]3 years ago
8 0

Answer:

An contract is an understanding agreement that can be implemented in court it is a shaped by two or more gatherings who consent to perform or to cease from playing out some demonstration now or later on . The target hypothesis of agreements not by the individual or subjective aim or conviction of a gathering .The hypothesis is that gathering's expectation to go into an agreement is judged by outward destinations truths as deciphered by a sensible individual ,as opposed to by the gathering's mystery subjective aims . the essential components of a substantial contract and the path in which an agreement is made. The agreements that fall under this circumstance would be the agreement of arrangement contract of development ,contract of execution and the agreement of enforceability. The main contract would be the agreement of arrangement .They are contracts that are grouped in light of how when an agreement of development .

In the event that Ed had constantly paid for all the earlier pieces of candy, there gives off an impression of being suggested in actuality contract taking into account the earlier course of dealings amongst Ed and Fran.

Waving the sweet treat at Fran can be seen as an affirmation that Ed was not surreptitiously taking the piece of candy, but rather was demonstrating that he would get her the cash for that one later. His questionable signal in light of the gatherings earlier course of managing could sensibly be translated by Fran as a nonverbal IOU at the cost of that 1 piece of candy.There can likewise be an inferred in law contract taking into account the same certainties since to not force a suggested in law guarantee to pay results in the uncalled for improvement of Ed at the expense of Fran.Either sort of inferred contract is enforceable in Court.

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Answer:

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1. Departmental Contribution and Net Income:

                  Videos Department      Music Department

Sales                      $370,500            279,500

Cost of goods sold 320,000             175,000

Contribution          $ 50,500             104,500

Direct expenses:

Salaries                     35,000               25,000

Maintenance             12,000                10,000

Utilities                        5,000                 4,500

Insurance                    4,200                 3,700

Indirect expenses:

Advertising                 8,550                 6,450

Salaries                     16,200                10,400

Office expenses        2,000                  1,200

Total expenses:    $82,950                61,250

Net Income (Loss)  $(133,450)           43,250

2. Video Department should be eliminated from the profit point of view.  Its indirect costs of $26,750 can be absorbed by the Music Department.

Explanation:

a) Data and Calculations:

                  Videos Department      Music Department

Sales                     $370,500            279500

Cost of goods sold 320000             175000

Direct expenses:

Salaries                    35,000              25000

Maintenance             12000               10000

Utilities                        5000                4500

Insurance                    4200                3700

Indirect expenses:

Advertising                 8,550              6,450

Salaries                     16,200             10,400

Office expenses        2,000               1,200

Indirect Costs:

Advertising         15000        Sales

Salaries              27000        Number of employees

Office expenses 3,200        Square footage

Department       Square footage     Number of employees

Videos                  5,000                        3

Music                    3,000                        2

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Sales                                             $370,500                279,500

Advertising         15000                      8,550                    6,450

Sales                            

Salaries              27000                     16,200                  10,400

Number of employees

Office expenses 3,200                      2,000                    1,200

Square footage

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