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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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Which of the following should occur when assessing a safety and health program’s effectiveness?
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5 0
3 years ago
Sales Tax Transactions Journalize the entries to record the following selected transactions: a. Sold $62,800 of merchandise on a
Rus_ich [418]

Answer:

Dr Account receivable $65,940

Cr Sales Revenue $62,800

Cr Sales tax payable $3,140

Explanation:

Sales of merchandise inventory on account

Dr Account receivable $65,940

Cr Sales Revenue $62,800

Cr Sales tax payable $3,140

Sales tax payable = Sales Revenue × Sales tax percentage

$62,800×5%

=$3,140

Amount of account receivable

Account receivable = Sales Revenue + Sales tax payable

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8 0
3 years ago
Bruce receives 20 stock rights in a nontaxable distribution. The stock rights have an FMV of $5,000. The common stock with respe
svlad2 [7]

Answer:

c. $5,000

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Bruce can deduct loss of $5,000

4 0
3 years ago
If an oligopoly does not cooperate and each firm chooses its own quantity, the industry will produce a quantity of output that i
Whitepunk [10]

Answer:

a. less than; more than 

Explanation:

An oligopoly is when there are few large firms operating in an industry.

A competitive industry is when there are many buyers and sellers of homogenous goods and services.

A Monopoly is when there is only one firm operating in an industry.

An oligopoly firm can choose to cooperate with other firms in the industry or not cooperate.

If firms do not cooperate they produce more goods than if they cooperated. The quantity produced can never be as much as that of a competitive firm because the number of producers in an oligopoly is less than that in a competitive firm.

The output would be more than the quantity produced by a monopoly because the number of producers in an oligopoly is more than that in a monopoly.

I hope my answer helps you.

6 0
3 years ago
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