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Over [174]
3 years ago
9

At age 17, in a state in which the age of majority is 18, Sally purchased a prom dress from Formal Stuff. She wore it to the pro

m and then attempted to return it to the store claiming that she was a minor and that she was entitled to a refund. The dress had clearly been worn and had a purple stain that Sally claimed was from grape juice. Additionally, a few days before she turned 18, Sally purchased a used car from Dings and Dents used cars. She had a deal whereby she paid $100 per month on the car. She drove the car and made payments for fourteen months after she turned 18. Then, she returned the car to Dings and Dents and told them that she wanted all her money back. Dings and Dents claimed the car was a necessity. Sally and her parents claimed that the parents were ready and willing to provide a car to Sally and that she only purchased the car from Dings and Dents because she liked that particular style and color. When purchases of the dress and car were made, the sellers knew that Sally was under the age of 18. In the dispute between Sally and the owner of Dings and Dents, which of the following is true regarding the defense of Sally and her parents that the car was a necessary?
1) The claim will have no effect because the law does not recognize the concept of necessaries when minors are involved.
2) Social status is always irrelevant in addressing a claim that an item was a necessary.
3) Whether or not parents would buy the item at issue is irrelevant in addressing a claim that an item was a necessary.
4) A minor may not disaffirm a contract for a necessary.
5) Even if a minor is allowed to disaffirm a contract for a necessary, the minor will still be held liable for the reasonable value of the necessary.
Business
1 answer:
d1i1m1o1n [39]3 years ago
6 0

Answer:

Answer is 5. Even if a minor is allowed to disaffirm a contract for a necessary, the minor will still be held liable for the reasonable value of the necessary.

Refer below.

Explanation:

In the dispute between Sally and the owner of Dings and Dents, the following is true regarding the defense of Sally and her parents that the car was a necessary:

Even if a minor is allowed to disaffirm a contract for a necessary, the minor will still be held liable for the reasonable value of the necessary.

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Elza [17]

Answer:

Operating costs = $7,000 x 5 years = $35,000

Operating costs = $2,600 x 5 years = $13,000

Explanation:

Operating costs = $7,000 x 5 years = $35,000

Operating costs = $2,600 x 5 years = $13,000

The current copier should be replaced. The incremental analysis shows that net income for the five-year period will be $3,000 higher by replacing the current copier.

6 0
4 years ago
What is the Dodd-Frank act do?
drek231 [11]
<span>A.prevents, detects, and prosecutes international
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4 years ago
Seppo consumes brandy and saunas. Neither is an inferior good. Seppo has a total of $30 a day and 6 hours a day to spend on bran
bearhunter [10]

Answer: consume both products at the same rate as before his inheritance.

Explanation: Seppo is a rational spender. This means that although Seppo has more money to spend on brandy and saunas, Seppo will only spend money on what Seppo needs. Seppo's inheritance will not change the amount of hours that are available in a day. Seppo will still only have 6 hours to spend, and will consume the products based on the amount of time Seppo has, instead of the extra cash Seppo can spend on these products. This means that although Seppo has more money, Seppo will still consume the same amount of products as before, as Seppo is a rational consumer who likes to weigh rational consumption choices.

4 0
3 years ago
$16000 is invested at an APR of 3.5% compounded daily. Write a numerical expression that would compute the value of the investme
babunello [35]

Answer:

The correct answer is $45,720.

Explanation:

According to the scenario, the given data are as follows:

Payment (pmt) = $16,000

Rate of interest (R)= 3.5% = .035

Time (t) = 30 years

Time (compounded daily ) (n) =  365days

(nt) = 365 ×30 = 10950 days

So, we can calculate future value after 30 years by using following formula:

FV = pmt × (1 + r/n )^{nt}

= $16,000 × (1 + .035/365 )^{10950}

= $16,000 × 2.8575

= $45,720

Hence, the future value after 30 years will be $45,720.

5 0
3 years ago
Corporation made sales of million during . Of this​ amount, collected cash for million. The​ company's cost of goods sold was ​m
saveliy_v [14]

Answer:

A. $405 million

B. $332 million

Explanation:

A. Calculation for How much was Carter's net income for 2016

Using this formula

2016 Net income=Sales revenue - Cost of goods sold - Other expenses

Let plug in the formula

2016 Net income= $900 million - $270 million - $225 million

2016 Net income = $405 million

Therefore How much was Carter's net income for 2016 is $405 million

B. Calculation for How much was Carter's cash balance at the end of 2016

Using this formula

2016 Ending cash balance =Beginning balance + Cash receipts - Payments

Let plug in the formula

2016 Ending cash balance=$ 110 millon + $872 million- $375million - $275million

2016 Ending cash balance= $332million

How much was Carter's cash balance at the end of 2016 is $332million

8 0
3 years ago
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