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Fofino [41]
3 years ago
5

Suppose at the end of the meeting that Jack agrees to offer the restaurant buyout, including the non-competition agreement. Prio

r to Jack and Sophia agreeing to the offer, however, Jack changes his mind. Can he do so?
A. No, once an offer is made, it can never be revoked.
B. No, unless the offer states that it is revocable.
C. Yes, and there is no need to actually communicate the revocation to Hal and Sophia (or their agent) prior to acceptance.
D. Yes, as long as he actually communicates the revocation to Hal and Sophia (or their agent) prior to acceptance.
Business
1 answer:
loris [4]3 years ago
3 0

Answer:

D) Yes, as long as he actually communicates the revocation to Hal and Sophia (or their agent) prior to acceptance.

Explanation:

In contract law, an offer can always be taken back as long as the other party hasn't accepted it yet. In this case, Jack agreed to make an offer about the restaurant and he even included certain details that apparently were important (non-competition agreement), but since Hal and Sophia haven't accepted it yet, Jack can take it back without fear of any claim being made against him. All he has to do is communicate his decision of taking back his offer to either Hal or Sophia, or their agent (if there is one).

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A provision stating that the insurer cannot dispute the validity of a policy after a specific period is called a(n) ______.
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Incontestability clause - This tells us the insurance company may not contest the validity of the policy during the insured's lifetime for any reason, including fraud, if the policy has been in effect for a predetermined duration

What is incontestability clause?

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8 0
1 year ago
Kristoff Walker operates his own catering service. Summary financial data for February are presented in equation form as follows
wariber [46]

Answer:

- $17,600

Explanation:

The computation of the net decrease in cash during the month is shown below:

= $40,600 - $17,400 - $30,200 - $2,300 - $8,300

= - $17,600

After calculating the items which are presented in the column 1 represent the net decrease in cash for $17,600 amount.  

The net decrease in cash represents an outflow of cash. In this, the chances of loss may be higher than the loss.

8 0
2 years ago
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Jacobsen Corporation prepares its financial statements applying U.S. GAAP. During its 2016 fiscal year, the company reported bef
maxonik [38]

Answer:

Jacobsen Corporation

Income from continuing operations of $621,000 will be reported.

Explanation:

The income from continuing operations is the same thing as the operating income.  It is the pre-tax income that is reported on Jacobsen Corporation's income statement for the year ended December 31, 2016.  The tax rate of 30% is applied on this figure to obtain the income tax expense for the year.  But, for Jacobsen that has other unusual items, these are taken into consideration before the income tax is imputed to obtain the after-tax income.

6 0
3 years ago
Marin Company's accounts receivable arising from sales to customers amounted to $131000 and $114000 at the beginning and end of
nekit [7.7K]

Answer:

$481,000

Explanation:

To determine the cash flows from operating activities, the net Income for the year must be adjusted by non - cash items and changes in working capital items.

Therefore, given a decrease in Accounts Receivable $17,000 ($131000 - $114000) . Then the cash flows from operating activities to be reported on the statement of cash flows is $481,000 ($498000 - $17,000) .

4 0
2 years ago
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