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
satela [25.4K]
3 years ago
11

MLS Construction LLC asked MD Drilling and Blasting Inc. to do rock drilling and blasting work required for an excavation projec

t. MD had previously done work for MLS but had not been fully paid. MD agreed to do the work if MLS made a significant payment on the balance due. MLS agreed and gave MD a check for $15,000. MD began work and the same day faxed an unsigned written airpayment to MLS. Two weeks later, MD learned that MLS had stopped payment on the check. MD stopped work on the project and sued MLS for breach of contract. MLS argued that the unsigned agreement that MD faxed revoked the original offer, and therefore there was no contract. Did it?
Business
2 answers:
Lemur [1.5K]3 years ago
7 0

Answer:

MD did not revoke their offer, so the contract was valid.

Explanation:

First of all, in order for an offer to be revoked, it must be done before the other party accepts the offer. Once the other party accepted the offer, a contract is formed. E.g. the offeror made a promise but revoked it before the offeree accepted, it is not valid anymore. But this didn't happen in this case, both sides agreed on the offer, so a binding contract exists.

MLS cannot revoke its offer at will simply because they want to, specially after receiving something of value in exchange. MD had already began working, so they had already given consideration to MLS.

In order for a revocation to be valid, it must be communicated to the other party before the acceptance, and that didn't happen here. Just because someone in MLS shouted out loud or told a friend that the offer was revoked, doesn't revoke it.

ozzi3 years ago
3 0

Answer:

Yes of course,the statement is true as the cheque that Mr. MLS gave him was not accepted in written format and when the written agreement was faxed , then also it was not signed by the required authorities. thus there is no authentication that it was agreed upon or not.

You might be interested in
On July 1, Arcola Company purchases equipment for $330,000. The equipment has an estimated useful life of 10 years and expected
Artyom0805 [142]

Answer:

a. $29,000

b. $214,000

c. Yes

Explanation:

a. Annual Depreciation expense:

= (Cost - salvage value)/ Useful life

= (330,000 - 40,000) / 10,000

= $29,000

b. Net book value at end of 4th year:

= Cost - 4 year depreciation

= 330,000 - (4 * 29,000)

= $214,000

c. One test to see if equipment is not impaired is that the Expected Undiscounted cashflows need to be higher than the net book value. This is not the case here as the Net Book value of $214,000 is higher than the expected Undiscounted cash inflows of $185,000. Equipment is therefore impaired.

4 0
3 years ago
You lend a friend ​$​, which your friend will repay in equal annual​ end-of-year payments of ​$​, with the first payment to be r
Vadim26 [7]

Answer: 18%

Explanation:

The payments that your friend will make are an annuity as they are constant. This means that the loan amount of $15,000 is the present value of the annuity.

To find the rate of return, use the factor tables.

Present value of annuity = Annuity * Present value interest factor of annuity, 14 years, ?%

15,000 = 3,000 * Present value interest factor of annuity, 14 years, ?%

Present value interest factor of annuity, 14 years, ?% = 15,000 / 3,000

Present value interest factor of annuity, 14 years, ?% = 5.0

Go to the present value of annuity factor table and find out what interest rate intersects with 14 periods such that the factor is 5.0.

That rate is 18%.

Rate of return is therefore 18%.

6 0
2 years ago
If you respond correctly you get brainliest: guess what
Artyom0805 [142]

Answer:

What?

Explanation:

8 0
2 years ago
Read 2 more answers
Which of the following is an example of the barter system?
nlexa [21]

Answer:

B. Taking a friend to lunch in return of a favor

Explanation:

Barter System is  direct commodity/ service to commodity/service exchange  , without using money as an intermediary exchange medium . It is also called C to C exchange .

Eg : Two farmers exchanging their wheat & rice , A teacher teaching grocers' child in exchange of groceries from him .

So : A. Simple Investment , C. Money Purchase , D. Money Denomination exchange - neither are examples of Barter System .

B . Paying off a friend's favour in exchange of a service (being service-service exchange) is a relatable  example.

4 0
3 years ago
How to find expiry date for a plane ticket?
kow [346]
You can ask a person who works for the company of your plane ticket and ask if it's expired.


5 0
3 years ago
Other questions:
  • The advantage of being self-employed (rather than being an employee) is: A. The overall limitation (50%) on meals does not apply
    9·1 answer
  • Which of the following are included in the employer's payroll taxes?
    15·1 answer
  • Tim's performance pizza is a small restaurant in philadelphia that sells gluten-free pizzas. tim's very tiny kitchen has barely
    15·1 answer
  • A firm produces output using capital and labor. The​ firm's marginal product of labor ​(MP Subscript Upper L​) is 40 and its mar
    15·1 answer
  • TB MC Qu. 4-44 Privott, Inc., manufactures ... Privott, Inc., manufactures and sells two products: Product Z9 and Product N0. Th
    11·1 answer
  • Which strategic approach tends to work best when price competition among rival sellers is vigorous, the market is large, and the
    13·1 answer
  • In year 2, Kilroy Company purchased land for a new office building at a purchase price of $325,000. There was an existing buildi
    8·1 answer
  • Suppose market demand for a product is given by the equation P = 20 – Q. For this market demand curve, marginal revenue is MR =
    12·1 answer
  • Green Manufacturing Company produces a product that has a variable cost of $30 per unit. Fixed costs amount to $240,000. The sel
    11·1 answer
  • The following information is available from the current period financial statements:
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!