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Musya8 [376]
3 years ago
15

Wilbur decides to sell his collection of rare stamps through an online auction site. When he is filling out the information abou

t his collection, he types $40 instead of $400 in the minimum price box. Wilbur does not notice his mistake until after the auction is over and someone has purchased his stamp collection for $75. Wilbur:
Business
1 answer:
jasenka [17]3 years ago
5 0

Answer:

Wilbur cannot rescind the contract based on his unilateral mistake.

Explanation:

Lets suppose that I made an offer of $1000 which you accepted to buy my car on a phone call for $1000 and later in the same day a person offered me more money for the same car and I sold the car to him. You went to court and I said that I mistakenly made an offer of $1000 which means that every person who revoke the clauses will make lame excuses in the court. If this act is permitted then the law gives the people free hand whatever they desire to do with the contract. So for this reason this act was considered unethical and the court said that the mistakes that are unilateral are not be rescind.

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In the past, the policy-making relationship between states and the federal government was called ______, since there was clear s
jeka94

In the past, the policy-making relationship between states and the federal government was called Dual federalism, since there was a clear separation of policy responsibility between the two levels.

Dual federalism, also known as hierarchical federalism or shared sovereignty, is a political arrangement in which powers are clearly divided between federal and state governments, with state governments exercising delegated powers without federal interference. .

Even the House and Senate are examples of dual federalism. Both houses may be involved in approving federal laws that affect different states and require state involvement, but issues can only be passed through the senator's desk or state senators. representative.

Learn more about Dual federalism here: brainly.com/question/5544302

#SPJ4

7 0
1 year ago
Say that Alland can produce 32 units of food per person per year or 16 units of clothing per person per year, but Georgeland can
Ierofanga [76]

The true statement out of all is

B) Georgeland has both an absolute and a comparative advantage in producing clothing.

Explanation:

This is because Absolute advantage is when one firm or a producer is able to produce more of a product using less resources or less time or more of the product in the same resources or same time as the other.

Comparative advantage is found out at the added bonus of having the product be as viable as it is advantageous which means that the producer could also be making another product and would have the advantage in that too so either one of them is equally profitable.

5 0
3 years ago
For each of the following separate situations, prepare he necessary accounting adjustments using the financial statement effects
mash [69]

Answer:

depreciation expense equipment 610 debit

  accumulated depreciation equipment  610 credit

utilities expense   390 debit

  utilities payable      390 credit

rent expense  700 debit

           prepaid rent       700 credit

insurance expense  468 debit

        prepaid insurance 468 credit

wages expense 965 debit

   wages payables  965 credit

interest receivables 300 debit

      interest revenue      300 credit

Explanation:

(C) rent calculations

2,800 --> four period of rent

2,800 / 4 = 700 per period

(D) insurance calculations

624 for the entire years

expired  9 months in this period

$624 x 9/12 = 468

8 0
3 years ago
Mary sells two products. She finds that when she promotes one product with a lower promotional price, sales increase for the oth
Marina CMI [18]

Answer:

Cheap

Explanation:

If Mary is selling one product at a lower promotional price then the buyer will think the other products are being sold at a lower price too right?

I may be wrong.......

8 0
3 years ago
The government of Wrexington, a country which has adopted American GDP accounting conventions, reported that GDP in quarter 3 wa
yanalaym [24]

Answer:

C. $12 billion.

Explanation:

GDP refers to the Gross domestic product. It means that the market value of all final goods and services produced within the country.

Since in the question the GDP reported in quarter 3 was $12 billion and the same is to be considered as a GDP because it reflected the market value of all final goods and services

Therefore, the correct option is c.

3 0
3 years ago
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