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Andrej [43]
3 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]3 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.

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How is ease of market entry and exit and exit related to the number of suppliers in a purely competitive market?
arlik [135]

Numbers of suppliers in a purely competitive market dictate how easy it is to start a business or transform it in that sector.

Explanation:

Entry an d Exit in a business sector means the ease of starting or transforming a business that is involved in a particular market sector.

In a purely competitive market the business is dictated by the market standards set by the completion of the various companies vying for a market share between each other.

The harder the competition at the top level, the harder it is for a new business to come up, similar is the case for when one or two companies dominate the hegemony in which case it is hard to grab a market share for the new entrant in the market.

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3 years ago
What is Meant by shares of a Company..!!??​
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Answer:

A company's capital is divided into small equal units of a finite number. Each unit is known as a share. In simple terms, a share is a percentage of ownership in a company or a financial asset. Investors who hold shares of any company are known as shareholders. ... 10 then the number of shares to be issued will be 1 lakh.

3 0
3 years ago
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A Parent Company owns 100% of its Subsidiary. During 2018, the Parent company reports net income (by itself, without any investm
marusya05 [52]

Answer:

$2,593,000

Explanation:

The computation of consolidated net income is shown below:-

cancellation of excess of Interest expenses over Income = Interest expense - Interest income

= $80,000 - $37,000

= $43,000

Consolidated net income = Parent company Income + Subsidiary Income + cancellation of excess of Interest expenses over Income

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= $2,593,000

So, for computing the consolidated net income we simply applied the above formula.

6 0
3 years ago
Cherry Creek Development, LP, is a limited partnership that invests in residential real estate projects. Its limited partners in
soldier1979 [14.2K]

Answer:

d. ​participates in the firm’s management.

Explanation:

A limited partnership is a form of business ownership with two or more partners. Limited partnerships are made up of general partners and limited partners.

The general partner manages the daily business operations. He makes investment decisions on behalf of the enterprise. He has unlimited liabilities to the debts and the liabilities of the business.

A limited partner is also known as silent partner. He does not take part in the management of the business. He has no voting rights. His liability is limited to the total amount of his investments

7 0
3 years ago
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Neporo4naja [7]

Answer:

franchisee , franchise.

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Franchisee is a company or an individual that holds the franchise for the sale of the products .

Franchise is a company whose product are being sold by the franchisee.

So franchising lets a company to to set up a small business quickly because the franchisee is associated with a brand and a franchise reaches a break-even point a lot quicker than an independent business.

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