BUSINESS LAW- TRUE OR FALSE

1. Under the UCC, a contract will generally fail because one or more terms are left open,
2. A contract without a quantity term is valid.
4. A contract for services is specifically covered by the UCC.
5. Whether there has been an offer is determined by a subjecive standard.
6. A says to B: "I am going to sell my car for $2,000." B says: "I accept, here is my check." Thierë
is a contract.
7. Offers made in jest are always invalid.
8. B agrees to buy all of her requireinents from S. S agress. The contract fails for lack of a definite
quantity term.
9. A writes to B: "I will offer you S20 a week if you will give violin lessons to my son. You have 30
days in which to reply to this offer." B is still thinking about it when a purporis to revoke 15
days later. B can nonetheless accept.
10. When an offeree learns from a third party that the offeror has sold the goods. the offer is re-
voked.
11. The modern view is that once the offeree of a unilateral contract begins to perionin, the offeror
inay not revoke his promise.
12. An offer continues until there is an express revocation of the offer.
13. A offers to sell his watch to B for 100. B says she will take it for 575. B may laier accept the offer
for S100.
14. A offers to sell his watch 10 B for $100.1 gives a 55 to keep the offer open. A may not revoke.
15. Under the UCC, a non-merchant may make her offer irrevocable without consideration.
16. In general, an offeree must affirmatively convey his or her intention to accept an offer to enter in
to a bilateral contract
17. A says to B:"If you paint my house, I will give you 5100." B promises to paint a's house. There
is a contract.
18. At common law, an offeree may request additional terms in accepting the offer.
19. Merchant S accepts Merchant B's offer with an additional clause providing for reasonable in
terest for overdue invoices. The additional clause is part of the contract.
20. Revocation of an offer sent by mail is elfective upon receipt.
21.. lla ained for forbearance of a legal right will constitut esileration
22. B agrees to buy a house offered by S if B gets a bank loan. There is a contract

Answers

Answer 1

A statement that is valid according to law of contract will be termed true while an invalid one is termed false.

Validity of the statements

Under the UCC, a contract will generally fail because one or more terms are left open, (TRUE)A contract without a quantity term is valid. (TRUE)A contract for services is specifically covered by the UCC. TRUEWhether there has been an offer is determined by a subjecive standard. TRUEA says to B: "I am going to sell my car for $2,000." B says: "I accept, here is my check." There is a contract. TRUEOffers made in jest are always invalid. FALSEB agrees to buy all of her requirements from S. S agrees. The contract fails for lack of a definite quantity term. TRUEA writes to B: "I will offer you S20 a week if you will give violin lessons to my son. You have 30days in which to reply to this offer." B is still thinking about it when a purporis to revoke 15days later. B can nonetheless accept. TRUEWhen an offeree learns from a third party that the offeror has sold the goods. the offer is re-voked. TRUEThe modern view is that once the offeree of a unilateral contract begins to perionin, the offeror may not revoke his promise. FALSEAn offer continues until there is an express revocation of the offer. TRUEA offers to sell his watch to B for 100. B says she will take it for 575. B may laier accept the offer for S100. TRUEA offers to sell his watch 10 B for $100.1 gives a 55 to keep the offer open. A may not revoke. TRUEUnder the UCC, a non-merchant may make her offer irrevocable without consideration. TRUEIn general, an offeree must affirmatively convey his or her intention to accept an offer to enter into a bilateral contract TRUEA says to B:"If you paint my house, I will give you 5100." B promises to paint a's house. Thereis a contract. TRUEAt common law, an offeree may request additional terms in accepting the offer. TRUEMerchant S accepts Merchant B's offer with an additional clause providing for reasonable interest for overdue invoices. The additional clause is part of the contract. TRUERevocation of an offer sent by mail is elfective upon receipt. TRUElla ained for forbearance of a legal right will constitut esileration TRUEB agrees to buy a house offered by S if B gets a bank loan. There is a contract TRUE

Law of contract

Law of contract is an agreement between private parties creating mutual obligations enforceable by law. The basic elements required for the agreement to be a legally enforceable contract are: mutual assent, expressed by a valid offer and acceptance; adequate consideration; capacity; and legality.

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Related Questions

Growland is a country that trades only with Canada. Last year, the value of exports from Growland to Canada was $200 million. Growland also
imported $600 million worth of goods from Canada. Based on this information, which of these statements is true?


Answers

Answer:

growling imports 400million good in trade than Canada

Computech Corporation is expanding rapidly and currently needs to retain all of its earnings; hence, it does not pay dividends. However, investors expect Computech to begin paying dividends, beginning with a dividend of $0.75 coming 3 years from today. The dividend should grow rapidly - at a rate of 49% per year - during Years 4 and 5, but after Year 5, growth should be a constant 10% per year. If the required return on Computech is 18%, what is the value of the stock today? Do not round intermediate calculations. Round your answer to the nearest cent.

Answers

If the required return on Computech is 18% the value of the stock in today's calculation is $11.77

What is the growth rate of a stock?

This is the percentage change of the stock based on the annualized growth rate over a period of time.

D3 = $0.75

D4 = 0.75 x 1.49 = $1.1175

D5 = 1.1175 x 1.49 = $1.665075

D6 = $1.665075 x 1.10 = $1.8315825

At a growth rate of 10 percent

[tex]\frac{D6}{R-G}[/tex]

1.8315825/0.18-0.10

= $[tex]\frac{0.75}{1.18^3} +\frac{1.1175}{1.18^4} +\frac{1.665075}{1.18^5} +\frac{22.89478125}{1.18^5} \\[/tex]

= 0.456473 + 0.576394 + 0.7278196 + 10.0075198

= $11.77

The value of this stock today is  $11.77

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They went for a bicycle ride (affirmative)

Answers

Answer:

???

Explanation:

I couldn't give you an answer. you didn't ask an actual question

What was the problem that created bank runs?

Answers

The problem that created bank runs was fear of a bank's unfolding insolvency, which may or may not be legitimate, and it usually deepens the banking crisis.

What are the causes of bank runs?

Bank runs occur when many depositors withdraw their deposits in droves from their banks based on some fear the banks could experience liquidity problems.

This implies that a bank run is a result of panic and not insolvency resulting from illiquidity.

For example, the stock market crash of 1929, when thousands of bank customers withdrew their deposits, leaving the banks with no cash.  The effects were that loans went bad and farmers became illiquid and unable to operate.

Thus, the problem that created bank runs was fear of a bank's unfolding insolvency, which may or may not be legitimate, and it usually deepens the banking crisis.

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Hi I need help please!!

Answers

A the answer bro or girl ok

Answer:

is the top or bottom question should answer?

Which statement below accurately describes Hope’s gross wages?

Answers

Can you provide an image of some kind?

What is the final answer

Answers

Answer:

renewable resources = resources that can be replenished

nonrenewable resources = resources that are gone once they are used

producer = person who makes goods or provides services

consumer = person whose wants are satisfied by using goods and services

allocate = distribute

choice = option

Dividends

Question 3 Attached

Answers

Ask your teacher about your homework
Ask for help from a tutor

In the project initiation phase, which document contains high-level details of the proposed project? A. project plan B. project proposal C. business justification D. proposal summar

Answers

In the project initiation phase, the project proposal is known to  contains high-level details of the proposed project.

What is a project proposal?

This is a project document that is known to carry all of the details that the project is supposed to have.

The proposal is known to have an outline of all that the stakeholders need to know about the work that is to be done.

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Answer:

The answer is B. project proposal

Explanation:

If you were opening a savings account with compound interest, would you prefer an account that offers annual compounding, quarterly compounding, or daily compounding? Why? (3-6 sentences. 2.0 points)

Answers

Answer:it is B

Explanation:its the mosr resonable

Question 1
Which of these is a main feature of the market economy?
A. Restricted resource use
B. The profit motive
C. Governmental regulation
D. Lack of private ownership of resources

Answers

Answer:

B

Explanation:

Annual Dividends

Question 4 Attached

Answers

Answer:

no it's was not because we don't add

Using the Base Case, calculate the annual sales growth for 2020E using a weighted-moving average of the past three years' growth rates, with the most recent year given a weight of 3, the next given a weight of 2 and the oldest given a weight of 1. What is the growth rate

Answers

The growth rate in investment is the compounded annualized growth of the revenue for a company, dividends, etc.

What is growth rate?

Your information is incomplete as the figures or data aren't given. Therefore, an overview will be given. It should be noted that a growth rate simply means the percentage change of a variable within a period of time.

The growth rate in investment is the compounded annualized growth of the revenue for a company, dividends, retail sales, GDP etc.

To calculated the growth rate, subtract past value from current value and divide that number by the past value.

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Answer:

Explanation:

7.6%

Describe and evaluate the elements of the carrying cost of inventory and how it relates to inventory levels and capital investment. How does ABC inventory stratification affect the carrying cost equation

Answers

1. The elements of the carrying cost of inventory include the following:

Capital costInventory service costInventory risk costStorage space cost.

2. The relationship between the carrying cost of inventory and the inventory levels and capital investment is shown by the Economic Order Quantity (EOQ) Model.

The EOQ model defines that there will be an increased carrying cost of inventory when the inventory order is above the EOQ level, which also results in increased capital investment for the purchase of inventory that is kept in stock for a long period.

Thus, the carrying cost of inventory and the inventory levels and capital investment have a linear relationship.  When one element increases, the other two elements will also increase.

3. ABC Inventory stratification helps management to reduce the carrying cost equation since it divides the inventory into many classifications to ensure the matching of inventory levels based on their annual requirements or demand.

What is inventory?

Inventory refers to the stock of goods that a company holds at the end of the trading period because it has remained unsold to outside parties.

Inventory is one of the current assets used in determining the current ratio.

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Economic significance of the stages of production

Answers

Stage one is the period of most growth in a company's production.

Stage two is the period where marginal returns start to decrease.

In stage three, marginal returns start to turn negative.

1. What is the required reserve ratio? (1 point)
Othe deposits that commercial companies make in banks
O the amount of money a bank has to loan out
O the portion of a deposit that a bank must keep on hand
Othe ratio of commercial to personal loans that a bank makes

Answers

Answer: C. the portion of a deposit that a bank must keep on hand

Explanation:

_____ requires that employees actually learn the content of the training program and that the necessary conditions are in place for employees to apply what they learned.

Answers

The requirement that employees actually learn what they are trained on and can apply that training is known as Transfer of training.

What is transfer of training?

This is a factor in human resource management that calls for employees to be able to transfer what they learnt in training, to their actual jobs.

For this to happen, the employees need to actually learn the content of training programs as well as operate in conditions that are necessary for them to apply what they learned.

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Rachael works in a matrix organization, and although she found it confusing at first, she has seen the inherent opportunities. Instead of being promoted from biology head to research head, Rachael prefers a project career, with opportunities to serve in increasingly responsible and diverse project manager/project director positions. Fortunately, one of the strengths of a matrix organization is

Answers

The strengths of a matrix organization is more career choices on both sides of the organization.

What is a Matrix organization?

This involves individuals reporting to more than one leader and the line of communication is usually unlimited and doesn't adhere to a singular line of command.

The roles are usually interchanged which is why she will benefit from the more career choices on both sides of the organization.

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1
Which tax is levied only by state and local governments?
O A. payroll tax
O B.
excise tax
O C. property tax
OD.
income tax

Answers

Answer:  C. Property Tax

Explanation:

Basically state and local govement coolect tax from income, property tax, and sales.

A popular, local coffeeshop in one of the suburbs of New York City (NYC) estimates they use 3,500 pounds of coffee annually. They have to determine how many pounds to order each time in order to minimize their total annual cost. a. Determine the optimal size of the order assuming an EOQ model with a holding cost of $10 per pound annually and an ordering cost of $100. (Do not round intermediate calculations. Round your answer to 2 decimal places.) b. The owner has recently opened another store of the same size in New York City; however, the demand for coffee is increased to 4,000 pounds annually, and the holding cost is $60 per pound. Those numbers are much higher as is the cost of real estate in NYC. The owner places orders of the same size as the first store because they are the same size stores. How much will the total cost be in the new coffeeshop

Answers

a) The determination of the optimal size of the order assuming an EOQ model for the local coffee shop is 265 pounds.

b) The total cost in the new coffee shop where the demand for coffee increased to 4,000 pounds at an order size of 265 pounds per order (assuming a unit cost of $3 per pound) is $253,500.

What is the EOQ Model?

The economic order quantity (EOQ) model calculates the ideal order quantity a company should purchase to minimize inventory costs such as holding costs, shortage costs, and order costs.

It is determined using the following model:

EOQ = square root of: 2 (ordering costs)(demand rate) / holding costs.

Thus, the EOQ model can be worked out as follows:

Determine the demand units.Determine the ordering cost.Determine the holding cost.Multiply the demand by 2.Then multiply the result by the order cost.Divide the result by the holding cost.

Data and Calculations:

a) The annual demand for coffee = 3,500 pounds

Holding cost per pound = $10

Ordering cost = $100

EOQ = square root of: 2 ($100 x 3,500) / $10

= 265 pounds

The annual demand for coffee = 4,000 pounds

Holding cost per pound = $60

Ordering cost = $100

EOQ (Order size) = 265 pounds

Assumed unit cost per pound = $3

The total cost in the new coffee shop = $

Annual holding cost = $240,000 ($60 x 4,000)

Annual ordering cost = $1,500 ($100 x 4,000/265)

Annual purchase cost = $12,000 (4,000 x $3)

Total costs = $253,500

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Geer Corporation has had the following returns for the past three years, 10%, -9%, and 14%. Calculate its compound annual returns.

Answers

The compound annual returns rate for Geer Corporation with the past three years' returns of 10%, -9%, and 14% is 4.5%.

What is the compound annual return?

The compound annual return of an investment is the annualized rate of return that considers the compound effect of the investment for each year.

The compound annual returns rate can be computed using an online finance calculator as below.

The computed rate can be applied to an imaginary investment amount to prove the mathematics as below.

Data and Calculations:

N (# of periods) = 3 years

I/Y (Interest per year) = 4.5%

PV (Present Value) = $1,000

PMT (Periodic Payment) = $0

Results:

FV = $1,141

Total Interest $141

Maths:

Year 1: $1,000 x 4.5% = $1,045

Year 2: $1,045 x 4.5% = $1,092

Year 3: $1,092 x 4.5% = $1,141

Proof:

Year 1: $1,000 x 10% = $1,100

Year 2: $1,100 x -9% = $1,001

Year 3: $1,001 x 14% = $1,141

Thus, the compound annual returns rate for Geer Corporation with the past three years' returns of 10%, -9%, and 14% is 4.5%.

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Is Starbucks bucking the trend of other food-service stores?

Answers

Mhm yeah I think soooo lol

What kind of bonds are issued by businesses as a source of long-term funding?

Answers

Corporate bonds are issued by companies.

general obligation bondsrevenue bondsconduit bonds

Explanation

Corporate bonds are debt securities issued by private and public corporations.

Which of the following prints money to
be used in the U.S. market?
A. Member Banks
B. Federal Reserve Banks
C. Federal Open Market Committee
D. National Bank

Answers

Answer: The answer is C

Answer:

C. Federal Open Market Committee

Simplify by combining like terms. (a) 6x+8x

Answers

Answer:

14x

Explanation:

6+8=14

6x+8x=14x

The Chief Strategy Officer for Miles Corporation is putting together a presentation using the Boston Consulting Group Matrix. The corporations pet products division has a low market share, but the pet products market is growing rapidly. This division should be placed in the _____________ quadrant of the BCG Matrix.

Cash cow

kitten

star

question mark

dog

Answers

The quadrant that the division on pet products should be placed on the BCG Matrix is the Question Mark.

What is the Question Mark quadrant?

Companies and divisions that are put in the question mark quadrant of the BCG matrix are in markets that have a high rate of growth.

This hight rate of growth is however countered by the low market share that the division or company has much like the pet products division described above.

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What are the main goals of Fiscal Policy?

Answers

Answer:

In economics and political science fiscal policy is the use of government revenue collection and expenditure to influence a country's economy. The use of government revenue expenditures to influence macroeconomic variables developed in reaction to the Great Depression of the 1930s, when the previous laissez-faire approach to economic management became unworkable. Fiscal policy is based on the theories of the British economist John Maynard Keynes, whose Keynesian economics theorized that government changes in the levels of taxation and government spending influence aggregate demand and the level of economic activity. Fiscal and monetary policy are the key strategies used by a country's government and central bank to advance its economic objectives. The combination of these policies enables these authorities to target inflation and to increase employment. Additionally, it is designed to try to keep GDP growth at 2%–3% and the unemployment rate near the natural unemployment rate of 4%–5%.This implies that fiscal policy is used to stabilize the economy over the course of the business cycle.

Explanation:

hope this helps if not please let me know

The main goals of fiscal policy are it is the use of government spending and taxation to influence the economy. Governments typically use fiscal policy to promote strong and sustainable growth and reduce poverty.

What is fiscal policy?

Fiscal policy is defined as the policy under which the government uses the instrument of taxation, public spending and public borrowing to achieve various objectives of economic policy. Simply put, it is the policy of government spending and taxation to achieve sustainable growth.

Fiscal policy is often contrasted with monetary policy which is regulated by the central bank. It is largely inspired by the ideas of British economist John Maynard Keynes whose theories were developed in the response to the Great Depression and were hugely influential in the formulation of the New Deal in the U.S. that aimed at huge spending for public projects and social welfare development.

When policymakers want to influence the economy, they mainly have two tools at their disposal, Monetary policy and Fiscal policy.

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A. Al Manara Company sells its single product for $ 30 per unit . The contribution margin ratio is 45%; and fixed costs are $ 10,000 per month. Required If Al Manara sells 1,000 units in the current month, what would Al Manara’s variable expenses be?

Answers

Answer:

Al Manara Company sells its single product for $ 30 per unit. The contribution margin ratio is 45%; and fixed costs are $ 10,000 per month Required If Al 

Explanation:

How the concept of ‘price elasticity of demand’ is of relevance to managers in determining their pricing strategies.

Answers

Answer:

Price elasticity of demand is a term that is used to describe the relationship between price and demand, and how changes in one will affect the other. Consumer demand for all products will respond differently to price changes, and this is true for all products. As a result, understanding those distinctions is critical when making critical pricing decisions.

I hope this helps you

:)

The variations in demand for a product with respect to its corresponding price can be described by the price elasticity of demand. It is of great importance to the managers in this concept that demand and price behave differently.

What are market factors?

Market factors are the factors that affect an economy of a country. They can be the fluctuations in the demand and supply of a product.

Price elasticity of demand is the economics concept that depicts the behavior of demand with respect to its price. As the demand and price respond differently, means, that if the price of a product increases, then the demand goes to fall down whereas if the price of a product falls down, then the demand increases. This variation has to be analyzed by the managers before making any pricing strategy.

Therefore, studying the concept of price elasticity of demand by managers is of essential importance.

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If profits are negative in a monopolistically competitive market, then: the industry will stop production. new firms will enter the market until economic profits are zero. firms will exit the market until economic profit returns to the optimal positive level. firms will exit the market until economic profit returns to zero

Answers

Profits are negative in a monopolistically competitive market, the new firms will enter the market until economic profits are zero.

What is competitive market?

Competitive market is a market that involves many sellers and producer that are competing with one another.

They compete to provide goods and services

Therefore, profits are negative in a monopolistically competitive market new firms will enter the market until economic profits are zero.

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