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bixtya [17]
2 years ago
9

After having problems with her Mitsubishi car, sandra salazar had santa Fe Mitsubishi install a used LO1 motor in it. when she p

icked up the car, a Mitsubishi employee told salazar to bring the car back if she had any problems. The car was smoking when she drove it home, and two days later, after the car’s oil light went on, a gas station attendant checked the oil and found that the car was totally out of oil. salazar took the car back to Mitsubishi for repair. The car still smoked and lost oil quickly and finally would not run. when Mitsubishi would not replace the engine at no cost, salazar sued Mit- subishi, alleging violation of an express warranty as a result of the employee’s statement to bring the car back if she had any problems with it. was the statement an express warranty?
Business
1 answer:
ehidna [41]2 years ago
6 0

Answer:

The statement is not an express warranty, because it doesn't involve a negotiation of terms between Salazar and Mitsubishi. It is an employee of the company that imploy Salazar to bring the car should the car gives problem, and didn't involve an agreement between the two parties ( Salazar and Mitsubishi)

Explanation:

What is express warranty?

An express warranty arises from the parties’ negotiations in a sales transaction. Express warranties are often included in the written terms of a contract. An “express” warranty by a seller is created by:

Any statement of fact or promise relating to the goods sold which becomes part of the basis of the bargain between the parties, creating a warranty that the goods will conform to the statement or promise.

Any description of the goods sold which becomes part of the basis of the bargain between the parties, creating a warranty that the goods will conform to the description.

Any sample or model, which becomes part of the basis of the bargain between the parties, creating a warranty that the goods will conform to the sample or model.

An express warranty may be created even if the seller does not use formal words such as “warranty” or “guarantee,” and even if the seller does not have a specific intention to make a warranty. However, an express warranty is not created merely because the seller makes a statement as to the value of the goods, or as to seller’s opinion of the goods. Generally, statements made by a seller during the course of contract negotiations are treated as statements of fact, unless it can be shown that the buyer could only have reasonably considered the statement to be an opinion.

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Riverboat Adventures pays $450,000 plus $5,000 in closing costs to buy out a competitor. The real estate consists of land apprai
kkurt [141]

Answer:

$150,150

Explanation:

Total fair value of all assets:

= Land + Building + Paddleboats

= $67,200 + $158,400 + $254,400

= $480,000

Building accounted for:

= Fair value of building ÷ Total fair value

= $158,400 ÷ $480,000

= 33%

Therefore, the building is 33% of the total fair value of assets.

Cost of acquisition of assets:

= Amount paid + Closing cost to buy out a competitor

= 450,000 + 5,000

= $455,000

Cost to be allocated to the building:

= Cost of acquisition of assets × Percent share in total fair value

= $455,000 × 33%

= $150,150

8 0
2 years ago
The following selected transactions relate to contingencies of Bowe-Whitney Inc. Bowe-Whitney's fiscal year ends on December 31,
victus00 [196]

Answer:

Explanation:            Balance sheet as at December 31

Provision should be made

1. December 31  -   Dr   Legal fine  $3,000,000

                                                                           Cr  legal liability   $3,000,000

February 12   Dr Legal fine $12,200,000      

                                                                         Cr legal liability  $ 12,200,000

a)Payment of fine was probable ,It can be measured reliably and an outflow of economic benefit will occur

b) An adjusting entry is required as it evident on a case that was already existing as at the year end.

2)A disclosure should be made in the financial statement .Even though it is material , but the effect can not be reasonably estimated . (Contingent liability )

3) A disclosure should be made in the financial statement stating the $5 million likely fine as the outcome is just reasonable but not probable , even though was estimated (contingent liability)

4) The assessment is only reasonable but not probable , it should be disclosed in financial the financial statements

4 0
2 years ago
Five independent projects consisting of reinforcing dams, levees, and embankments are available for funding by a certain public
Alex777 [14]

Answer:

the correct answer is option (b).

Explanation:

Equivalent annual benefits and annual cost of each project is provided.

Calculate B-C ratio of project A -

Annual benefits = $1,800,000

Annual costs = $2,000,000

B-C ratio = Annual benefits/Annual costs = $1,800,000/$2,000,000 = 0.90

The B-C ratio of Project A is 0.90.

Calculate B-C ratio of project B -

Annual benefits = $5,600,000

Annual costs = $4,200,000

B-C ratio = Annual benefits/Annual costs = $5,600,000/$4,200,000 = 1.33

The B-C ratio of Project B is 1.33.

Calculate B-C ratio of project C -

Annual benefits = $8,400,000

Annual costs = $6,800,000

B-C ratio = Annual benefits/Annual costs = $8,400,000/$6,800,000 = 1.24

The B-C ratio of Project C is 1.24.

Calculate B-C ratio of project D -

Annual benefits = $2,600,000

Annual costs = $2,800,000

B-C ratio = Annual benefits/Annual costs = $2,600,000/$2,800,000 = 0.93

The B-C ratio of Project D is 0.93.

Calculate B-C ratio of project E -

Annual benefits = $6,600,000

Annual costs = $5,400,000

B-C ratio = Annual benefits/Annual costs = $6,600,000/$5,400,000 = 1.22

The B-C ratio of Project E is 1.22.

It has been stated that the agency is willing to invest money in any project as long as the B-C ratio is at least one.

The B-C ratio of project A and D are less than 1. So, they will not be considered.

Out of remaining three project, B-C ratio is highest in the case of Project B.

So, Project B will be selected.

Hence, the correct answer is option (b).

7 0
2 years ago
Princetown Inc. has a $4.82 million basis in 68% of the outstanding stock of Merryvale Corporation. Merryvale manufactures Chris
Snowcat [4.5K]

Answer:

$4.82 million ordinary loss

Explanation:

Note: The option to the question is attached

Merryvale is an affiliated corporation, so Princetown is allowed an ordinary loss in the worthlessness of the stock

6 0
2 years ago
Read the passage. What should Jake do? What professionalism skills would he be using?
faltersainse [42]
<h2>Jake should use multi-tasking skill.</h2>

Explanation:

An employee with multi-tasking skill grows well in an organization because he can handle multiple responsibilities and that is what the need of the hour.

Jake should also prioritize the work to do multi-tasking. According to the given situation.

1. Clarify the client first. Clients are king. They bring business.

2. Make the changes in the previous report. Because this is rework and better to complete it soon.

Below are fresh works.

3. Review the report written by the co-worker

4. Write your own report.

6 0
2 years ago
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