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Tatiana [17]
3 years ago
11

Bob went out with his friends to celebrate his birthday. They went to a bar where they drank copious quantities of alcohol. In t

he morning, Bob had not slept and was still obviously intoxicated. He found his way to a car dealership near his house and entered into a contract to buy a Mercedes Benz SUV for the cost of $140,000.00. The car salesman could smell alcohol on Bob's breath, he noticed his eyes were bloodshot and "glossy" while they were signing the papers relating to the sale, and when Bob left he could see that he was unsteady on his feet. Bob left the dealership and went home and went to bed. He slept for two days. The car salesman from the dealership called Bob 4 days later to tell him that his vehicle was ready for pick up. Bob had no memory of the buying any car.
In these circumstances:
A. the contract is void ab initio because Bob lacked capacity to contract due to his intoxication
B. Bob can avoid or repudiate the contract within a reasonable time after he regains capacity and sobers up
C. Bob cannot avoid the contract because he is responsible for his intoxication and the car salesman had no way of knowing Bob was intoxicated at the time of entering into the contract
Business
1 answer:
Nimfa-mama [501]3 years ago
8 0
I think the answer is c
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On Jan. 2, Callie Taylor invests $40,000 into the business in exchange for common stock. She journalize the transaction as follo
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Answer:

See explanation section.

Explanation:

The correct journal to record this transaction is -

Cash                    Debit          $40,000

Common stock   Credit         $40,000

Note: As Callie Taylor invests the amount in exchange for common stock, An asset (cash) will be increased, and equity (common stock) will be increased. An increase in asset means debit, while an increase in equity means credit.

6 0
2 years ago
Poland's Paints allocates overhead based on machine hours. Selected data for the most recent year follow.Estimated MOH $238,000A
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Answer:

B.) $11.90

Explanation:

Predetermined manufacturing overhead rate are based on the estimates made by the company.

So the calculation should be:

Estimated MOH of $238,000<em> divided by</em> Estimated Machine Hours of 20,000.

Giving us the result of $11.90

(238,000 / 20,000 = 11.90)

7 0
3 years ago
The raw materials or reactants of the photosynthetic process include
Firdavs [7]
<h3><u>Full Question:</u></h3>

The raw materials or reactants of the photosynthetic process include

A. glucose and oxygen.

B. carbon dioxide and glucose.

C. carbon dioxide and water.

D. carbon dioxide and oxygen.

The raw materials or reactants of the photosynthetic process include carbon dioxide and water.

<h3><u>Explanation:</u></h3>

The process by which the light energy obtained from the sun is converted into chemical energy is photosynthesis. This process takes place in all plants having chloroplast pigments. The raw materials of this process is water and carbon dioxide.  

In the photosynthesis process water, carbon dioxide and minerals will be converted into oxygen and some organic compounds that are filled with energy. This acts as an energy source for the plants to survive. This process will not be possible in the absence of the chloroplast pigment.

3 0
2 years ago
Tidwell Company has provided the following partial comparative balance sheets and the income statement for 20X2.
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Answer:

here for points

Explanation:

3 0
3 years ago
Piedmont Hotels is an all-equity company. Its stock has a beta of 1.23. The market risk premium is 6.9 percent and the risk-free
never [62]

Answer:

The required rate of return for the project will be 13.087%

Explanation:

To calculate the required rate of return for the project, we must first calculate the required rate of return for the firm's equity. The required rate of return can be calculated using the CAPM or Capital Asset Pricing Model equation. The formula for required rate of return (r) under this model is,

r = rRf + Beta * rpM

Where,

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r = 0.027 + 1.23 * 0.069

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r = 0.11187 +  0.019

r = 0.13087 or 13.087%

5 0
3 years ago
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