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MariettaO [177]
3 years ago
13

ack and Jackie had been living together in Kansas for about a year. Jack wanted to marry Jackie, so he bought a $10,000 engageme

nt ring and romantically gave it to her when they went out to dinner. She accepted his proposal of marriage and the ring and went about arranging their wedding ceremony for about six months later. She had to make several non-refundable deposits. But about 3 weeks before the wedding, without any explanation Jack called off the engagement and demanded that Jackie return the engagement ring, which she refused to do. Is Jack entitled to get the ring back or can Jackie keep it? For up to 20
Business
1 answer:
Dahasolnce [82]3 years ago
8 0

Answer:

Jack is NOT entitled to get the ring back and Jackie keep it.

Explanation:

A Contract existed between Jack and Jackie and the ring was given to Jackie after <u>the acceptance of a marriage proposal</u> because 'she accepted his proposal of marriage'. Therefore there is an oral enforceable contract in place.

Another thought or evidence in support of Jackie's position is the fact they had lived together for over a year, hence <u>it is more likely than not that a marriage intention must have been in place</u>.

Furthermore, Jack cannot be entitled to get back the ring because in the United States <u>statute of frauds also cover a prenuptial agreement</u>

<u>Therefore, for Jack to enforce any position or claim of the ring, there must be an agreement to prove that  (something in writing), that Jackie had signed; stating that she would return the ring if he changed his mind.</u>

In the scenario, that condition is not present and Jackie would keep the ring.

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A company produces and sells a consumer product and is able to control the demand for the product by varying the selling price.
Yuki888 [10]

A company produces and sells a consumer product and is able to control the demand for the product by varying the selling price. The approximate relationship between price and demand is 50 units.

p = 38 + (2,700 / D) - (5,000 / D2)

Marginal (variable) cost (MC) = 40

(a) Profit is maximized by equality of Marginal revenue (MR) and MC.

Total revenue (TR) = p x D = 38D + 2,700 - (5,000 / D)

MR = dTR / dD = 38 + (5,000 / D2)

Equating MR with MC,

38 + (5,000 / D2) = 40

5,000 / D2 = 2

D2 = 2,500

Taking positive square root on each side,

D = 50

(b) When D = 50, from demand function we get

p = 38 + (2,700 / 50) - (5,000 / 2,500) = 38 + 54 - 2 = $90 (Profit-maximizing price)

Profit (\pi) ($) = Total Revenue - Total Costs = TR - (Fixed cost + Total variable cost) = (p x D) - (1,000 + 40D)

= 38D + 2,700 - (5,000 / D) - 1,000 - 40D

= 1,700 - 2D - (5,000 / D)

Profit is maximized when d\pi/dD = 0 and d2\pi/dD2 < 0.

First order condition: d\pi/dD = - 2 + (5,000 / D2)

Second order condition: d2\pi/dD2 = d/dD(d\pi/dD) = - 2 x (5,000 / D3) = - 10,000 / D3

Since D > 0, (- 10,000 / D3) < 0, which proves that profit is maximized when company produces = 50 units.

Learn more about the company products at

brainly.com/question/19649017

#SPJ4

8 0
2 years ago
Using the information below, calculate gross profit for the period:    Beginning Raw Materials Inventory$25,000 Ending Raw Mater
nevsk [136]

Answer:

Gross Profit                  714,000

Explanation:

Gross Proft: is the diference between the sales revenue and the cost of the goods sold.

Sales revenue          1,254,000

Cost of Goods Sold    (540,000)

Gross Profit                  714,000

note: All the other account and values are irrelevant to determinate the gross profit.

<u>Other way to calculate gross profit:</u>

(sale price per unit - cost per unit) x unit sold

5 0
4 years ago
Ashton borrows $25,000 from Amanda, who lends the money without taking an interest in collateral for the loan. Amanda is relying
polet [3.4K]

Amanda is kind of an unsecured creditor.

<h3>What Is an Unsecured Creditor?</h3>

An unsecured creditor is an individual or institution that lends money without obtaining specified assets as collateral. This poses a higher risk to the creditor because it will have nothing to fall back on should the borrower default on the loan.

If a borrower fails to make a payment on a debt that is unsecured, the creditor cannot take any of the borrower's assets without winning a lawsuit first.

In other word, An unsecured creditor is a creditor other than a preferential creditor that does not have the benefit of any security interests in the assets of the debtor.

Therefore, we can conclude tat the correct option is A. Amanda is kind of an unsecured creditor.

Your question is incomplete, but most probably your full question was:

Ashton borrows $25,000 from Amanda, who lends the money without taking an interest in collateral for the loan. Amanda is relying on Ashton's credit standing when she made the loan. In this case, what kind of creditor is Amanda?

A) an unsecured creditor

B) a secured creditor

C) an administrative claim creditor

D) a post-petition creditor

Learn more about Unsecured Creditor on:

brainly.com/question/2872411

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3 0
2 years ago
As assistant to the CFO of Boulder Inc., you must estimate the Year 1 cash flow for a project with the following data. What is t
dybincka [34]

Answer:

answer is a

Explanation:

7 0
3 years ago
The partnership of Anderson, Berry, Hammond, and Winwood is being liquidated. It currently holds cash of $20,000 but no other as
Rashid [163]

Answer:

a. Contribution from Berry = $6,000

b-1. Contribution from Hammond = $22,556

b-2. Disbursement shall be:

Anderson = $8,889

Berry = $3,667

c. Amount to be received by Anderson on Liquidation = $11,500

Explanation:

As for the provided information we have,

Capital balances

Anderson     40%       $20,000

Berry             30%      $12,000

Hammond     20%      $17,000 (Deficit)

Winwood       10%       $25,000 (Deficit)

a. Total deficit in this case will be = Share of Hammond + Winwood = $17,000 + $25,000 = $42,000

Berry's share = \frac{30}{30+40} \times 42,000 = 18,000

Since Berry's current balance = $12,000

Contribution required = $18,000 - $12,000 = $6,000

b-1. Total deficit of Winwood = $25,000

Hammond share = \frac{20}{20+30+40} \times 25,000 = 5,556

Hammond's current balance = - $17,000

Thus, contribution from Hammond = $5,556 + $17,000 = $22,556

b-2. Total deficit balance = $17,000 + $25,000 = $42,000

Total sufficient balance = $20,000 + $12,000 = $32,000

Net deficit balance = $42,000 - $32,000 = $10,000

Anderson share in Deficit of Winwood = 25,000 \times \frac{40}{40 + 30 +20} = 11,111

Thus, net capital of Anderson = $20,000 - $11,111 = $8,889

Berry's share in deficit of Winwood = 25,000 \times \frac{30}{40+30+20} = 8,333

Thus, net capital from Berry = $12,000 - $8,333 = $3,667

c. Total deficit from Hammond = $17,000

Anderson share = 17,000 \times \frac{40}{40+30+10} = 8,500

Anderson's current balance = $20,000

Amount extra contributed by Anderson = $20,000 - $8,500 = $11,500

Thus, Anderson will receive $11,500 on liquidation.

Final Answer

a. Contribution from Berry = $6,000

b-1. Contribution from Hammond = $22,556

b-2. Disbursement shall be:

Anderson = $8,889

Berry = $3,667

c. Amount to be received by Anderson on Liquidation = $11,500

3 0
3 years ago
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