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Annette [7]
3 years ago
12

The manager of a shoe store noticed that mukluks were flying off the shelf in anticipation of another exceptionally cold winter.

On November 1, the manager sent an order on the store's own form to a local manufacturer of mukluks for 100 pairs, at a cost of $90 a pair, the price listed in the manufacturer's catalogue. The manager filled in the delivery date as December 1 and signed the form. The next day, November 2, the manufacturer mailed a signed confirmation on its own form, which was the same in all respects except that it included a clause calling for arbitration of all disputes. Having found mukluks for $80 per pair from another supplier, the store manager phoned the manufacturer on November 4 and stated that the store no longer wished to order the boots. The manufacturer responded that it was too late, and that the store should expect delivery as promised in December. On November 5, the store manager received the manufacturer's confirmation. If the store manager subsequently refuses the manufacturer's delivery on December 1, who will prevail if the manufacturer sues the shoe store for breach of contract
Business
1 answer:
Margarita [4]3 years ago
5 0

Answer: The manufacturer, because the shoe store's revocation of its offer was too late.

Explanation:

Based on the scenario given in the question, if the store manager subsequently refuses the manufacturer's delivery on December 1, and thee manufacturer sues the shoe store for breach of contract, the manufacturer will prevail because the shoe store's revocation of its offer was too late.

According to the mailbox rule under the contract law, this is the default rule that's used to determine when an offer is considered to be accepted and when there's communication of the acceptance. In this case, the revocation is too late therefore the manufacturer will prevail.

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To estimate the amount of money needed so you don't run out.
4 0
3 years ago
A partner can be held liable for a partnership obligation only if he or she participated in, or knew about, whatever it was that
Tju [1.3M]

A partner <u>cannot</u> be held liable for a partnership obligation only if he or she participated in, or knew about, whatever it was that gave rise to the obligation.

<h3>What is partnership?</h3>

Partnership arrangements come in many different forms. One type of business where partners may have minimal liability is a partnership where all participants share profits and liabilities equally. Additionally, there is the so-called "silent partner," when one party does not participate in the day-to-day management of the company.

  • An agreement between two or more people to manage a business' operations and divide its assets and liabilities is known as a partnership.
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  • Lawyers and other professionals frequently create limited liability partnerships.

A partnership may have tax advantages over a corporation.

To learn more about partnership from the given link:

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8 0
2 years ago
Smith Company gives the following information on the financial statements: Net Income $50,000 Preferred Dividends 8,000 Average
ch4aika [34]

Answer: The rate of return on common stockholder’s equity is 23%.

Explanation:

Given that,

Net Income = $50,000

Preferred Dividends = 8,000

Average Common Stockholder’s Equity = 180,000

Average number of Common Shares Outstanding = 250,000 shares

Market Price = $2 per share

Therefore,

Return on equity = \frac{Net\ income - Preferred\ Dividends}{stockholder\ equity}

=  \frac{50000 - 8000}{180000}

= 23%

5 0
3 years ago
Universal Containers requires that the organization-wide default for opportunities be set to public read/write. However, sales u
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Answer: The correct answer is "D. Use the show filter to filter report results and reduce records returned".

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7 0
3 years ago
Which of the following is a correct description of the crowding-out effect of deficit spending?
borishaifa [10]

Answer:

the options are missing, so I looked for them:

a. The buying of government bonds leads to lower interest rates, thereby reducing private investment.

b. The selling of government bonds leads to higher interest rates, thereby reducing private investment.

c. The selling of government bonds leads to lower interest rates, thereby reducing private investment.

d. The buying of government bonds leads to higher interest rates, thereby reducing private investment.

the answer is:

b. The selling of government bonds leads to higher interest rates, thereby reducing private investment.

Explanation:

The crowding out effect happens when the government increases its spending level in order to engage in an expansionary fiscal policy but someone needs to pay for this extra spending. In order for the government to finance their spending, they have to choose to either increase taxes or issue more debt. When they issue more debt, they end up decreasing private investment since money that could be used by private companies is used by the government instead.  

5 0
3 years ago
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