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
Andrej [43]
2 years ago
15

Garth owns two all-terrain vehicles (ATVs), worth $1,000 and $500, respectively. Helen agrees to buy "Garth’s ATV" for $750. Gar

th believes, in good faith, that he is selling the $500 ATV. Helen believes, in good faith, that she is buying the $1,000 ATV. In this situation
Business
1 answer:
Jobisdone [24]2 years ago
5 0

Answer:

There is no contract since both Helen and Garth made a mutual mistake.

In contract law, a mutual mistake occurs when all the parties involved (Helen and Garth) are mistaken about important material facts that affect the contract (which ATV is being sold). The parties intend to perform but what they consider being part of the contract is not what the other party considers part of the contract. When both parties make a mutual mistake, the contract is cancelled.

Mutual mistakes are not on purpose, they are mistakes committed in good faith.

You might be interested in
Baylor Bank believes the New Zealand dollar will appreciate over the next 15 days from $.90 to $.93. The following annual intere
maw [93]

Answer:

19 milion 86+15=91 19000091

5 0
2 years ago
Crawford Fishing had a net income of $35,640 in 2017. They decided to pay $3,000 in dividends and keep the rest to help expand t
Lady bird [3.3K]

Answer:

'Retained income'.

Explanation:

We have been given that Crawford Fishing had a net income of $35,640 in 2017. They decided to pay $3,000 in dividends and keep the rest to help expand their production line.

We know that the net income that remains after paying dividends is known as 'Retained income'.

We also know that retained income can be used to pay off debts or it can be invested into business activities.

Therefore, the profit that Crawford Fishing keep to reinvest in the business is recorded as retained income.

8 0
3 years ago
The value of Surnum's, a developing economy, currency is fixed relative to the U.S. dollar. The exchange rate between the Surnum
Verizon [17]

Answer:

Surnum's exchange rate is pegged.

Explanation:

Exchange rate is the rate at which a countrie's currency is exchanged for another. Usually when there is more demand for a countrie's currency it will have more value than other currencies and vice versa.

There are two ways a countrie's currency rate can be controlled in relation to others.

First is by market forces of demand and supply.

Secondly is by pegging the countrie's currency against another and using reserves of the other currency to account for market fluctuations.

In this instance Surnum has pegged it's currency against the dollar, so it will use its dollar reserves to account for fluctuations in order to maintain the pegged exchange rate.

4 0
3 years ago
The price of bread goes up. What happens to DEMAND for butter?
nikklg [1K]

Answer:

A. The demand curve shifts to the left

Explanation:

Bread and butter are compliment goods. They offer the consumer a high utility when consumed together. An increase in demand for bread will increase the demand for butter.  Changes in the price of bread will affect the demand for butter.

An increase in the price of bread leads to a decrease in demand. Reduction in bread demand means that butter consumption will decline as there will be less bread to apply butter. A decrease in demand will prompt the demand curve to shift inwards.

3 0
3 years ago
Question 6 of 10
earnstyle [38]

Answer: A. Can I afford this?

Explanation: A P E X

3 0
3 years ago
Other questions:
  • Desmond told his two friends, Marley and Brianna, that he was awarded a $10,000 grant for college if he becomes a math or scienc
    12·2 answers
  • The information provided by financial reporting pertains to A. individual business enterprises, industries, and an economy as a
    12·1 answer
  • Suppose you have three producers of oil A, B, and C, with extractions costs of $8, $10, and $12 per barrel of oil. Assume there
    7·1 answer
  • Braynerd Chemicals sells 40 million shares of stock in an SEO—25 million being primary shares issued by the company and 15 milli
    9·1 answer
  • "You plan to buy a piece of machinery worth $50,000 then you plan to sell it at the end of its 15-year life cycle for $5,000. Wh
    10·1 answer
  • Both friends agree that the demand and supply for hybrid cars will increase. For each of the following situations, determine whe
    7·1 answer
  • Luther's Operating Margin for the year ending December 31, 2008 is closest to: Group of answer choices 0.5% 0.7% 5.4% 6.8%
    9·1 answer
  • 100 free hope you do the same
    11·1 answer
  • Information needed by external entities in order to evaluate business performance is provided by:
    12·1 answer
  • Explain the term strategic dependence. what kind of markets would we expect to find it in? How will it affect the behavior of fi
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!