Based on information available, as measured in 2008, about 60 percent of U.S. trade and 60 percent of European business is intra-industry trade.
<h3>What is intra-industry trade?</h3>
The intra-industry trade is a term used in describing the commercial activities that involve the exchange of related products about the same industry.
The intra-industry trade is common in international markets where related features are exchanged between countries.
Based on the information released in 2008, the intra-industry trade takes a massive part of the USA and Europe trade, with 60 percent each.
Hence, in this case, it is concluded that intra-industry trade is a common phenomenon in the international market.
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Answer:
<u>Ebony Interiors</u>
<u>Balance Sheet as at February 28, 20Y3</u>
Total Assets $1,150,000
Total Liabilities $310,000
Total Equity $840,000
Total Equity and Liabilities $1,150,000
Answer:
C) Louis has not accepted and there is no contract.
Explanation:
In this scenario, Laura offered to sell Louis a tract of land. The offer was complete and certain as to all material terms but the offer stated that a telegraphed acceptance was required. Within a reasonable time, Louis telephoned Laura to accept but this doesn't translate to acceptance because Louis has not done the needful to present or send a telegraphed acceptance.
Hence, in this situation, Louis has not accepted and there is no contract yet.
Under the Uniform Commercial Code (UCC), an offer has been accepted only when Louis (the offeree) performs the requisite act by Laura (the offerer).
In this case of selling a tract of land, a telegraphed acceptance is the authorized and authentic means of communication of acceptance.
Additionally, a Uniform Commercial Code (UCC) is a legal principle, regulations and standard set of laws for transactions of business between two or more parties.
