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kramer
3 years ago
5

Jane operates a home decorations shop selling slightly used goods. She bought a painting from Sally for the shop. Bob came into

the shop and asked if the painting was by Bill, a local artist of some repute. Jane, without checking with Sally, says, "I'm sure it is" because she really did think it looked like one of Bill's paintings. Bob bought the painting. A week or so later, he took the painting by Bill's studio. Bill just laughed and said that he never painted anything that horrible. Bob took the painting back to Jane and asked for a refund. Jane refused on the basis that she never gave refunds and that Bob took the risk that the painting was not done by Bill. Should Bob sue in small claims court, who will likely win and why?
a. Bob on the basis of negligent misrepresentation.
b. Bob on the basis of innocent misrepresentation.
c. Jane both on the basis that Bob accepted the risk of loss and on the basis that he agreed by verbal contract to purchase the painting.
d. Jane on the basis that Bob accepted the risk of loss.
e. Bob on the basis of unilateral mistake.
Business
1 answer:
evablogger [386]3 years ago
6 0

Answer:

The answer is option E) If bob should sue in claims court, he could win on the basis of unilateral mistake.

Explanation:

In a contract setting, a unilateral mistake refers to instances where only one party is mistaken regarding a word, definition, term, quantity, or other measurement in a contract.

In this case, Bob's argument will be based on the premise that:

Jane assured him that he was buying Bill's paintings thereby making him to pay for something else that was different from what he really wanted.

And Jane should make refunds on the grounds that the error was from her end alone.

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Answer:

Mojave Corporation and Target Costing:

If Mojave changes to the approach known as target costing, the company will first: trim its $350 cost.

Explanation:

Target Costing is a costing technique where a desired profit margin is set and deducted from a competitive market price.  The selling price equals the target cost plus the profit margin. This implies that there is a target cost above which a manufacturer will not exceed given its desired profit and a competitive market price.  Therefore, cost must be trimmed to achieve the desired profit level given a market price.

Mojave needs to plan ahead for the price points, product costs, and profit margins it wants to achieve.  If it cannot achieve these, then it will be in its best interest not to continue production.

7 0
4 years ago
Read the following statements and decide in which one you think it is ?
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Answer:

Uhm...C?

Explanation:

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2 years ago
The primary intent of antitrust legislation is to a. ensure that product safety standards are met. b. eliminate positive economi
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Answer:

Control monopoly power preserve and promote competition.

Explanation:

Antitrust laws are rules that are put in place to ensure equal economic rights in business. This law enforces different types of businesses to follow an orderly and structured form of competition in the market.

Antitrust laws promotes the production of different standard goods at the lowest possible price. This law is put in place to enable consumers choose from different alternatives present in the market.

Antitrust law encourages businesses to cut down their cost and produce more quality products.

4 0
3 years ago
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At December 31, 2020, Sandra’s Boutique had 1850 gift certificates outstanding, which had been sold to customers during 2020 for
zhannawk [14.2K]

Answer: $129,500

Explanation:

According to the Accrual Basis in Accounting, revenue and expenses should only be recognised when goods have been delivered.

On the December 31, 2020 Sandra's Boutique had 1,850 gift certificates outstanding but these had been sold already to people during the year for $70.

This means that they have been paid for a service that they have not given (they provide the service when the GIFT certificate is renewed).

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The amount to be Deferred will therefore be,

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4 years ago
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Option a

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This is an advertising campaign which creates a curiosity in the minds of consumers till the brands last ad. This type of campaign will keep the consumers always think about the product and ad which is going to be launched soon.  

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