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8_murik_8 [283]
2 years ago
9

A man of seemingly modest means died, leaving his nephew as his sole heir. Among the items inherited by the nephew were some old

oil paintings. The nephew knew nothing about art and had no place to put the paintings in his home. He placed an ad in the paper offering to sell the paintings at a price to be mutually agreed upon. A buyer for an art gallery responded to the ad. The buyer did not identify himself as an art gallery buyer or tell the nephew that he was knowledgeable about art. Rather, he concocted a story about wanting the paintings for his country estate. The nephew, for his part, revealed his lack of knowledge about art when he told the buyer that his uncle had probably painted the pieces himself. From the signature and the style, the buyer recognized that the artist was a renowned 19th century American portrait artist. The nephew and the buyer agreed upon a price and executed a contract. However, before the nephew delivered the paintings to the buyer, or the buyer paid him, he sought to rescind the contract. The buyer insisted that the nephew deliver the paintings to him and threatened to sue for breach of contract if he did not. Which argument would give the nephew the best basis for rescinding the contract with the buyer
Business
1 answer:
nignag [31]2 years ago
5 0

Answer:

The response to these questions can be defined as follows:

Explanation:

In the given scenario, the buyer was requested that perhaps the nephew give him the paintings and threatened to sue if they did not. Because the nephew said to the buyer that uncle possibly has painted the nephew's painting are used to give them the best basis to cancel the agreement with both the buyer.

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Yield management pricing is ______. Multiple choice question. setting a price a few cents or a few dollars below an even number
charle [14.2K]

Answer:

a complex approach that continually matches demand and supply to customize the price for a service.

Explanation:

Price can be defined as the amount of money that is required to be paid by a buyer (customer) to a seller (producer) in order to acquire goods and services.

In sales and marketing, pricing of products is considered to be an essential element of a business firm's marketing mix because place, promotion and product largely depends on it.

One of the importance associated with the pricing of products is that, it improves the image of a business firm.

Yield management pricing is a complex approach that continually matches demand and supply to customize the price for a service. It is commonly used by businesses that are typically involved in tourism, hospitality, and airline services.

8 0
3 years ago
Suppose the owners of Lopes and HomeMax meet for a friendly game of golf one afternoon and happen to discuss a strategy to optim
Amiraneli [1.4K]

Answer:

c. $2.0 million for Lopes and by $2.5 million for HomeMax.

Explanation:

For the problem above, the two organizations agreed to work on a particular project because they believed that they will benefit from the outcome of the project. Based on the available information provided in the question, the profit that Lopes will make yearly will increase by $2.0 million while that of HomeMax will increase by $2.5 million.

3 0
3 years ago
Increases in the minimum wage are intended to raise the incomes of low-income workers. Many economists favor a different policy
Stels [109]

Answer:

The Earned Income credit

Explanation:

Many economists choose the earned income credit (EIC) over the increase in minimum wage because it avoids deadweight losses. Deadweight losses results when supply are demand are not in equilibrium (Market Inefficiency). Increases in minimum wages invariably leads to increase in prices of market goods which are overpriced. This leads to market Inefficiency.

So in trying to help low income earners, many economists choose the EIC over just increasing minimum wage.

The earned Income Credit helps certain tax payers with low incomes from work in a particular tax year. It reduces the amount of tax owed and may result in a refund to the tax payers if the amount of credit is greater than the amount of tax owed.

8 0
3 years ago
Geneva needs additional capital to launch her business but does not want to share management responsibility with partners. Neith
Talja [164]

Answer:

The answer is: C) S corporation

Explanation:

Geneva should choose an S Corporation. In my opinion she should do it because corporate income, losses, deductions, and credits are passed through to its shareholders, while it can be managed like a normal corporation.

If she chooses a Limited Liability Partnership she would still have to share management responsibility with her partners and C Corporations are heavily taxed. If she had enough money she could start a sole proprietorship business, but she doesn't have enough money.

5 0
3 years ago
A grant seeker is considering a project that involves providing more low-calorie, fiber-rich foods to low-income families. What
BigorU [14]

Answer:

C) a local school district

Explanation:

Many school districts already carry out similar policies through Local School Wellness Policy programs. Malnutrition negatively affects kids the most and that is why school districts are currently trying to fight it. Malnutrition is not simply not eating enough food, it means not eating nutritious food at the right amounts. Obese children can suffer from malnutrition, while a slender kid can have a proper and balanced nutrition.

So if someone is seeking for a grant to fight malnutrition, they should go to their local authorities first and get in touch with the school district.

4 0
2 years ago
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