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Alex777 [14]
2 years ago
6

Business law professor Debby needed some yard work done. She told her class that she would give $50 to the first person who mowe

d her yard. She also entered into an agreement with Brenda to trim some shrubbery for $40. Max went to mow Debby's yard. Unfortunately, just as he finished mowing, a neighborhood dog bit him and he had to go to the emergency room for a couple of stitches. Debby refused to pay Max on the basis that the agreement was not in writing and that Max ended up being more trouble than he was worth. Max refused to pay the emergency room because he said that they did not have a binding, bilateral contract. Brenda refused to trim the shrubbery because she got a better offer and claimed that she was not bound by the contract until she started to perform.
Which of the following is an appropriate characterization of the agreement between Debby and Max?

A. They had a bilateral, express agreement.
B. They had a bilateral, implied agreement.
C. They had a bilateral and unilateral agreement.
D. They had a unilateral, express agreement.
E. They had a unilateral, implied agreement.
Business
1 answer:
Bad White [126]2 years ago
5 0

Answer:

D) They had a unilateral, express agreement.

Explanation:

In a unilateral contract, the offeror makes an express promise without a reciprocal agreement from another party. The offeror's express promise of payment requires that the other party performs.

In this case, professor Debby made an express promise to pay $50 to anyone that mowed her yard, and Max performed the yard mowing, therefore he is entitled to payment.

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Assume that you plan to buy a share of XYZ stock today and to hold it for 2 years. Your expectations are that you will not recei
Stolb23 [73]

Answer:

Price to be paid today = $118.35

Explanation:

<em>The price of a share can be calculated using the dividend valuation model  </em>

<em>According to this model the value of share is equal to the sum of the present values of its future cash dividends discounted at the required rate of return.  </em>

The model can applied as follows:

PV of dividend = D×(1+r) ^(-n)

D- dividend , r - required rate , n- number of year

D- 9.25,  r - 16%, n = 2

PV of dividend = 9.25 × (1.16)^(-2)= 6.9

PV of disposal value

PV of dividend = F ×  (1+r) ^(-n)

D- disposal value  , r - required rate , n- number of year

PV of disposal value  = 150 × (1.16)^(-2)= 111.47

Price to be paid today

Total present value  =  6.9  +  111.47  = 118.35

Price to be paid today = $118.35

4 0
2 years ago
The Work in Process Inventory account had a beginning balance of $16,200 on April 1. During April, the cost of direct materials
zhenek [66]

Answer:

$28,700

Explanation:

We know that

Ending work in process inventory = Opening work in process inventory + total manufacturing cost - cost of finished goods manufactured

where,

Total manufacturing cost = cost of direct materials used + direct labor cost + overhead  cost

= $408,000 + $56,000 + $72,000

= $536,000

So, the ending work in process inventory would be

= $16,200 + $536,000 - $523,500

= $28,700

4 0
2 years ago
An automobile dealer expects to sell 1250 cars a year. The cars cost $9000 plus a fixed charge of $1000 per delivery. If it cost
Brilliant_brown [7]

Answer:

Order size = 50 cars

The number of orders=25

Explanation:

<em>The Economic Order Quantity (EOQ) is the order size that minimizes the balance of ordering cost and holding cost. At the EOQ, the carrying cost is equal to the holding cost.  </em>

It is computed using the formulae below  

EOQ = √ (2× Co× D)/Ch  

Co- Ordering cost, Ch- Carrying cost - D- Annual demand  

EOQ= √2× 1000× 1250/1000= 50

Number of cars to be ordered per time, i.e optimal order size= 50 cars

Order size = 50 cars

b)

The number of times orders should be placed per year would be calculated as follows:

The number of orders = Annual demand/ order size

The number of orders= 1250/50 = 25

The number of orders=25

4 0
2 years ago
Fairchild Garden Supply expects $700 million of sales this year, and it forecasts a 15% increase for next year. The CFO uses thi
vazorg [7]

Answer:

D) 3.48

Explanation:

Current Year Sales = $700

Growth rate = 15%

Projected Sales=$700*15% +$700

Which is $805

Required inventory = $30.2 + 0.25*projected sales

Req.Inv = $30.2 + 0.25($805)

Req.Inv = $231.45

Inventory turn over = projected sales/Req.inv

$805/$231.45

Inventory turn over = 3.48 times

8 0
2 years ago
Jaime works as a Power Plant Manager. What are some tasks that he may be involved in?
babunello [35]
A .
<span>designing systems, scheduling projects, and supervising workers</span>
6 0
2 years ago
Read 2 more answers
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