Question Completion:
a. List the 3 elements of an offer and describe each (in your own words).
b. Did Precious Jewelry make an offer when they placed the ad in the magazine? Did Sharon make an offer when she placed the order? Why or why not?
c. What will be the likely outcome if Sharon sues Precious Jewelry to force them to fill her order? Explain your answer.
Answer:
a. The three elements of a valid offer are Communication, Commitment, and Definite Terms. Communication of an offer should be between the offeror and the offeree and not with the general public. Commitment in an offer requires that the two parties are identified and are committed to the exchange of offer and acceptance. Definite terms means that the terms of the offer must be clear and well-understood by the involved parties.
b. Precious Jewelry did not make an offer when it placed the ad in the magazine. The ad was an invitation to offer. Sharon was the party that made the offer when she ordered for the jewelries. It was then left for Precious Jewelry to accept or reject the offer.
c. If Sharon sues Precious Jewelry to force them to fill her order, she does not have the locus standi because there is no basis for the existence of a contract between Sharon and Precious Jewelry since Sharon's offer was not accepted by Precious Jewelry and there was no consideration.
Explanation:
For a valid contract to exist between Sharon and Precious Jewelry, the five elements of a contract must be present. They include valid offer, acceptance, mutual consent (or assent), consideration, and legality (including capacity).
Answer:
c. 10%
Explanation:
Margin of safety is the sales value at which the business is safe from making loss. It measures the profit after the break-even point. The sales over the break-even point is considered as the margin of safety.
Margin of safety = Actual Sales - Break-even point = 12,500 units - 11,250 units = 1250 units
Percentage of margin of safety to sales = Margin of safety / Actual sales
Percentage of margin of safety to sales = 1,250 / 12,500
Percentage of margin of safety to sales = 0.10
Percentage of margin of safety to sales = 10%
As a marketing manager, how does a focus on sustainability inform your responsibilities and sports: purchaser delight
A marketing manager is accountable for leading the advertising efforts for a commercial enterprise, carrier, or product. They estimate marketplace call for and lead an advertising crew to develop and put into effect creative and particular techniques to power consumer interest via multiple media channels.
Advertising management is the organizational discipline which makes a specialty of the sensible software of advertising and marketing orientation, techniques, and techniques internal enterprises and organizations and at the management of a company's advertising and marketing assets and activities.
A marketing manager is a superb profession for professionals obsessed with marketing, person revels in, social media trends, market research, and records analytics. it's also a superb career preference for folks that enjoy operating with a numerous groups of enterprise management and advertising professionals on a day-by-day foundation.
Learn more about marketing manager here: brainly.com/question/24553900
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Answer:
A. Worthless investments or assets sold to unsuspecting investors.
Explanation:
Investment scams
It involves a person getting his money put for a questionable investment , or any fake or fraud investment scheme , and in most of the case , the person lose some amount or all his amount of money .
Some common scams are as follows -
Answer:
Laffer curve is the curve built on graph which explains that tax revenue will be increased when tax rates are raised. It also indicates that the tax revenue will increase to a certain point on the R-max line after which the curve starts declining which means the tax revenue will decline.
Explanation:
Laffer curve is a theory by economists which indicates the relationship between tax rates and the tax revenue. If the tax rates are increased then the tax revenue will also rise. This is the theory which is believed by many economists and many businesses also follow such strategy to improve their business profits.