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SIZIF [17.4K]
2 years ago
10

Your real estate development company enters into an oral purchase agreement with the owner of land that contains several barns l

ocated out in the country. Your plan is to raze the barns and build a strip mall. One of the barns contains various construction equipment. You also verbally agree to purchase the equipment for $2,000, along with paying off any associated debt. You deliver a check to the land owner for the price of the land and the barns. In return you receive a deed to the land along with a note that says, "happy you are taking that equipment off my hands!" After starting demolition of the barns, you decide that you will no longer need the construction equipment. Where do you stand with the deal?
Business
1 answer:
Vitek1552 [10]2 years ago
8 0

Answer:

Explanation:

An agreement becomes a contract that will be enforceable in a court of law only if the vital elements of a contract are present in the said agreement. The Vital elements of a valid contract are as below:-

1) Offer and Acceptance:- There should be an offer that is properly communicated to the offeree. When the person to whom the offer is made signifies his consent, the proposal is said to be accepted. Persons may enter into contracts when they are: face to face; over the telephone or through post office courier service etc. When persons are face to face, one person making the offer and the other accepting, the contract comes into existence immediately. The communication of revocation is complete

-as against the person who makes it:- When the communication of revocation is put into a route of transmission to the person to whom the revocation is made, to be out of the power of the person who makes the revocation.

-as against the person to whom it is made:- When the revocation comes to the awareness of the person to whom it is made.

Conclusively, a contract is an oral or written agreement that could be enforceable by law. However, in case of an agreement; it could be similar but not binding in the perceptions of the law.

When agreement becomes formal and binding, it takes the shape of a contract.

Other essentials shall include:

2) Intention to create a legal relationship

3) Possibility of performance

4) The capacity of the parties to contract

5) Free Consent

6) The legality of object and Consideration

7) Certainty of meaning

8) It is not expressly declared to be void

9) Necessary legal formalities

10) Consideration

Accordingly, if a contract meets the above criteria, it could be said to be legally binding even if it is oral. If my Company has agreed to buy the equipment, it is to be noted that the offer is already accepted and even approved by the other party by writing a ‘Thanking note’ in return. Therefore, the entire agreement is legally enforceable and I do need to perform my part of the deal to avoid any legal complications. My silence to the acknowledgment letter presented by the other party shall also deem that I am willing to purchase that equipment and hence cannot reverse the same until the retraction is accepted by the other party as well. This is the primary essential of any valid contract, as explained above.

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You are a newly hired operations manager for Hospital XYZ. You are required to:
Sergeu [11.5K]

Answer:

Follows are the solution to this question:

Explanation:

follows are the tasks, which is not in the priority order and at hand at Hospital XYZ:

HR domain: share the latest recruitment procedures throughout the emergency department of public health.

Operations: nurse staffing methods for function or treatment.

Funding: Review financial requests for both the purchase of new protections on wax surfaces by protection from the environment.

IT: IT reviews complaints regarding a possible breach of information.

IT: Study application in the physician's office for the implementation of new technology.

If valuing such activities, it should remember, that this patient (client) becomes impacted mainly. The clinicians or staff involved in Tasks 1 & 2, because Task 2, the very first priority must be considered, and also some standards must be developed, by each nurse, with remote care issues.

Information from its daily client is provided to control the staff, and a specific training program is intended for both the newly employed and negative feedback staff.

Respondents-Patients, Professions

Task 1, which directly affects the daily quality of service in a hospital, should be the secondary priority, with such a smaller shortage of hospitals due to customer dissatisfaction.

Members – Patients, medical personnel, permanent employees, doctors.

Task 4 When information violation is alleged, the third priority should to the loss of important patient data to certain other entities that may use for financial gains.

Participants – IT department, patients.

Task 3 will help its hospital cleaner if funds are required to purchase new buffers. Especially in comparison with all the above 3 tasks, it was taken as the fourth priority.

It was important, and that does not affect mostly the client nor would it impact the level of service as large as the three tasks above.

Advisor position-representatives of finance, environment protection, clean folk (sweepers). advisor position

Task 5 Its latest radiology software review application is now to be approved as the last. It indicates why old software is already in place since it is a new program. Consequently, nothing's ever going to stoop or the task in other projects is no slowdowns. It can be achieved as the last goal.

Investors involved-officials of the IT agency, diagnostic agents.

The process improvement throughout the solution of the problems in the hospitals by providing them the necessary importance to identify the priorities of different tasks.

6 0
2 years ago
a country produces and consumes 8 units of sugar cane costing $50 per unit and two ipods that cost $200 each. after specializati
Musya8 [376]

Answer: $33 without trade, $50 with trade

Explanation:

Wages can be defined as any monetary compensation paid by an employer to his/her employee for work done during a specific period of time. Payment may be calculated as a fixed amount for each accomplished task, or on hourly basis, daily rate, or based on the quantity of work done, which has been easily and adequately measured. The wages of this country if a efficiently calculated is $33 without trade and $50 with trade.

4 0
2 years ago
Read 2 more answers
In 2006, consumers held on to a 2007 Chevrolet Monte Carlo at the State Fair of Texas in an endurance competition that tested co
Semmy [17]

Answer:

b. Advertising  promotional activity

Explanation:

Advertising promotional activity -

Promotional activity is employed , in order to publicize about the goods and services produced by a company or firm , is referred to the method of promotional activity .

The promotional activity can be done by various methods , like television , radio , newspaper etc .

Advertising promotional activity , is the most common and one of the cheapest form of promotional activity , which is done with the help of online as well as offline platform , like newspaper , websites , ,magazines etc .

Hence , from the given scenario of the question ,

The correct option is b. Advertising  promotional activity .

4 0
2 years ago
Equivalent Units of Conversion Costs The Rolling Department of Kraus Steel Company had 200 tons in beginning work in process inv
umka21 [38]

Answer:

Equivalent units  =   3,855 units

Explanation:

Equivalent unit are notional whole units which represent incomplete work and are used to apportion cost between working in progress and completed work.

Equivalent unit is calculated as:

Degree of completion (%) × Units .

The equivalent units can be calculated by using either the first in first out (FIFO)  or weighted average method.

Here, we will use the FIFO.

FIFO: Under this method, to account for the completed units of a particular period, it is assumed that the opening inventory units must first be completed. That is, the first set of completed units should be the opening inventory.

The table below has been set out for explanation:

Items                   Units Notes Workings Equiv.Units

Opening inventory  200  1 40% × 200 80

Fully worked               3,700  2 100% × 3700 3700

Closing Inventory          300  3 25% × 300 75

Equivalent unit                                  3,855.0

Notes

1. 60% work has already been done in the previous period (September) so in October the balance is done.

2. The fully work represents units of new work introduced in October and completed in the same period. The value is 3900- 200 = 3700

3. The closing inventory is the units of new work started in October but not yet completed at the end of October.

Equivalent units = 3,855.0

4 0
2 years ago
Southwest Milling Co. purchased a front-end loader to move stacks of lumber. The loader had a list price of $118,660. The seller
natulia [17]

Answer:

$117,417

Explanation:

Calculation to Determine the amount to be capitalized in the asset account

Costs that are to be capitalized:

List price $118,660

Less: Discount ($5,043)

($118,660*4.25%)

Freight cost $2,640

Specialist fee $1,160

Total costs $117,417

Therefore the amount to be capitalized in the asset account will be $117,417

7 0
2 years ago
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