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andre [41]
3 years ago
7

Fact pattern 10-1 lulene makes the best lemon meringue pies in mississippi. so ellen, who owns ellen's old fashion cafe, contrac

ts with lulene to buy 50 pies per week at the price of $5.00 per pie. although lulene took a class in business law, she forgot to get her agreement with ellen in writing. lulene and ellen agreed during a chat. lulene said: "i will supply you with lemon meringue pies for however long you want them at $5.00 per pie." ellen said: "that's great, i'll take them." both women were pleased. soon lulene had a problem. between a hurricane in florida and brush fires in california, the price of lemons increased by 200%. now, instead of the $5.00 per pie price she intended to charge ellen, she feels she must charge $7.00 per pie to make a little profit. lulene calls ellen with the bad news and ellen has a fit. she tells lulene that's too bad, but the deal is off. lulene says, "that's what you think!" and goes to see amanda, her attorney. lulene makes the best lemon meringue pies in mississippi. so ellen, who owns ellen's old fashion cafe, contracts with lulene to buy 50 pies per week at the price of $5.00 per pie. ​ although lulene took a class in business law, she forgot to get her agreement with ellen in writing. lulene and ellen agreed during a chat. lulene said: "i will supply you with lemon meringue pies for however long you want them at $5.00 per pie." ellen said: "that's great, i'll take them." both women were pleased. ​ soon lulene had a problem. between a hurricane in florida and brush fires in california, the price of lemons increased by 200%. now, instead of the $5.00 per pie price she intended to charge ellen, she feels she must charge $7.00 per pie to make a little profit. ​ lulene calls ellen with the bad news and ellen has a fit. she tells lulene that's too bad, but the deal is off. lulene says, "that's what you think!" and goes to see amanda, her attorney. lulene and ellen's contract may best be described as:
Business
1 answer:
Whitepunk [10]3 years ago
6 0

Lulene and Ellen's contract may best be described as invalid based on indefiniteness. Lulene and Ellen's contract is not valid because they did not sign an agreement for the contract. They decided verbally on the agreement with the pies but since it is not in writing, it can't be tried as a valid contract.

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Schager Company purchased a computer system at a cost of $40,000. The estimated useful life is 10 years, and the estimated resid
Elodia [21]

Answer:

The correct answer is B: $5,600

Explanation:

Giving the following information:

Schager Company purchased a computer system for $40,000. The estimated useful life is 10 years, and the estimated residual value is $5,000.

Double-declining balance method= Netbook value* (2/useful life in years)

Year 1:

Double-declining balance method= (40000-5000)*(2/10)= $7000

Year 2:

Double-declining balance method= (35000-7000)*0.20= $5,600

7 0
3 years ago
What happens to the matter and energy in fossil fuels when the fuels are burned? Help
Tatiana [17]
The fuel is exposed to heat and oxygen and it burns producing byproducts and heat. The heat is ultimately often used in an engine to reduce motion for transportation some other form of mechanical motion or Electricity
8 0
3 years ago
You plan to borrow $40,000 at a 6% annual interest rate. The terms require you to amortize the loan with 7 equal end-of-year pay
STALIN [3.7K]

Answer:

Interest for second year $2,114.08

Explanation:

given data

loan Amount = $40,000.00  

Interest rate r = 6.00%  

time period t = 7  

solution

we get here first Equal Monthly Payment EMI that is express as

EMI = \frac{P \times r \times (1+r)^t}{(1+r)^t-1}      ................1

here P is Loan Amount and r is rate and t is time period  

put here value and we get  

EMI = \frac{40000 \times 0.06 \times (1+0.06)^7}{(1+0.06)^7-1}    

EMI = $7165.40  

now

we get here interest for second year that is

Closing balance at year 1 = opening balance + Interest - EMI Payment

Closing balance at year 1 =  $40,000  + $2400 - $7165.40  

Closing balance at year 1 =   $35234.60

so Interest for second year $2,114.08

8 0
4 years ago
After an extensive advertising campaign, the manager of a company wants to estimate the proportion of potential customers that r
spayn [35]

Answer:

1. Referring to Problem , the manager wants to know the value of the population so the manager uses the sample to estimate the population proportion.

a. True

2. Referring to Problem , point estimate of the population proportion is = 0.45.

a. True

3. Referring to problem , the sample proportion is = 0.45.

b. False

4. Referring to Problem, the manager wants to know the value for the population so the manager uses the sample to estimate the population value

b. False

5. Referring to Problem , the parameter of interest is 54/120 = 0.45.

a. True

Explanation:

a) Data and Calculations:

Sample of potential consumers = 120

Proportion of the sample who recognize the product = 54

Confidence level = 95%

Confidence interval = 0.36 to 0.54

Point estimate = 54/120 = 0.45

b) A point estimate of a population parameter estimates the population parameter as a single value.  The point estimate of the sample mean, x, is also the point estimate of the population mean, μ.  To get the sample proportion, one needs to know the population value.  The sample value divided by the population value gives the sample proportion.

7 0
3 years ago
The increase in unemployment that occurs during recessions and depressions is called: Multiple choice question. structural unemp
Alchen [17]

Answer:

Cyclical unemployment

Explanation

Unemployment is simply a state of joblessness.unemployment rate is said to be the percentage of the nation's labor force that is unemployed.

cyclical unemployment is simply a type of uneployment it usually arises during economic downturns and falls when the economy improves.it is caused by the upswings and downswings of business cycles in the economy.

7 0
3 years ago
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