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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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alexgriva [62]

Answer:

<em>LEXINGTON TIRE provides a higher unit cost but, a lower inventory cost overall considering the ordering, holding cost, and administrative cost generated. </em>

<em>The company should pick LEXINGTON TIRE</em>

<em> </em>

Explanation:

<em>LEXINGTON TIRE</em>

SHIPPING QUANTITY PER SHIPMENT 2,000

SHIPPING COSTS 18,000

PRICE per TIRE 30

INVENTORY HOLD COSTS (H)  6.00

LEAD TIME (DAYS) 6

ADMIN. COSTS 15,000

Total cost:  25,000 / 2,000 = 12.5 per year

shipment cost: $18,000 per shipment x 12.5 per year =  225,000

Materials cost:

25,000 tires x $30 per tire = 750,000

Holding cost:

lead time + average inventory

6 days x 100 tires + 2,000 tires / 2 = 1,600 tires on average

times $6 holding cost = 9,600

Total cost: Inventory 225,000 + 750,000 materials + 9,600 holding + 15,000 admin

<em>total 999,600</em>

IRMO AUTO

SHIPPING QUANTITY PER SHIPMENT 1,000

SHIPPING COSTS   25,000

PRICE per TIRE 29(p)

INVENTORY HOLD COSTS (H)  5.80

LEAD TIME (DAYS) 4

ADMIN. COSTS 18,000

Shipping per year: 25,000 / 1,000 = 25

Ordering cost: 25 shipment x 25,000 = 625,000

Materials:

25,000 x 29 = 725,000

Holding:

lead time + average inventory

4 days x 100  + 1000/2 = 900 units on inventory throughout the year

Holding cost: 900 x $5.80 = 5,220

Total Inventory cost:

Ordering 625,000 + materials 725,000  + 5,220 holding + 18,000 admin

<em>total = 1,355,220</em>

7 0
3 years ago
Jamesway Corporation has two separate divisions that operate as profit centers. The following information is available for the m
Nookie1986 [14]

Answer:

White Division Gross Profit  = $72,200

Grey Division Gross Profit =  $247,700

Explanation:

                                                     White Division    Grey division

Sales (net)                                      $270,000            $540,000

Less: Cost of goods sold              <u> $135,000  </u>          <u>$202,500</u>

Gross Margin                                 $135,000             $337,500

Less: Salary Expenses                   $37,800              $64,800

Rent                                                 <u>$25,000</u>              <u>$25,000</u>

Gross Profit                                   <u> $72,200 </u>             <u>$247,700</u>

The White Division occupies 25,000 square feet in the plant. The Grey Division occupies 25,000 square feet. Hence, the rent expenses will be shared equally. Rent = $50,000 hence, both division will pay $25,000 each              for rent

7 0
3 years ago
Money is: multiple choice any good that buyers and sellers have a desire to purchase, use, or hold. anything that both buyers an
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Answer:

Money is: any good that buyers and sellers have a desire to purchase, use, or hold. only the printed paper currency and the coins that are produced by the government. anything that both buyers and sellers will accept in exchange for goods and services. the gold and silver behind the currency and the coins that are issued by the government.

Explanation:

if it is helpful..... plzz like and follow

8 0
3 years ago
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Product deletion can best be described as the process of deleting a product from the product mix when it a. no longer responds t
Mamont248 [21]

Answer:

(c). no longer satisfies a sufficient number of customers

Explanation:

Product deletion refers to removal or discontinuance of a product from the product line when such a product has been consistently incurring losses since a number of years and it's further continuation would adversely affect the other products and profitability.

A product is usually deleted from the product line on the grounds of it's failure in satisfying a sufficient number of customers.

Hence, the correct option is (c). no longer satisfies a sufficient number of customers.

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4 years ago
Phishing:_______
grandymaker [24]

Answer:

a)

Explanation:

Phishing is a type of deception in which an intruder disguises himself in email or other means of communication as a reputable individual or person. Attackers would normally use phishing e-mails to spread a range of malicious links or attachments. Some people will gather login credentials or victims' account details.

So as per above definition only option A seems the correct alternative among al the other option when discussing about Phishing.

A con executed using technology, typically targeted at acquiring sensitive information, or tricking someone into installing malicious software.

7 0
3 years ago
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