User Account

All Pages

Indicate whether consideration is present

Assignment Help Finance Basics
Reference no: EM131175063

QUESTION

Consider the following situations and indicate whether consideration is present and whether Jack has an enforceable agreement:

a) Jane is going overseas and she offers to give her Lotus Super 7 sports car to Jack. The market value for this type of vehicle in good condition is around $25 000. Jack accepts.

b) Jane offers to sell Jack her Lotus Super 7 sports car for $25 000. The market value for this type of vehicle in good condition is around $25 000. Jack accepts.

c) Jane offers to sell Jack her Lotus Super 7 sports car for $2500. The market value for this type of vehicle in good condition is around $25 000. Jack accepts.

QUESTION 2 -

A shipbuilder had contracted to build a tanker for North Ocean Tankers. The contract was in US dollars and didn't contain any provisions for currency fluctuations. Approximately halfway through construction of the ship, the United States devalued its currency by 10 per cent.

As the shipbuilder stood to make a loss on the contract, it demanded that an extra US$3 million be paid or it would stop work. The buyer reluctantly agreed under protest to pay, as he already had a charter for the tanker and it was essential that it be delivered on time.

The buyer didn't commence action to recover the excess payment until some nine months after delivery. Will the buyer succeed in recovering the excess?business and corporations law subject.

Reference no: EM131175063

Questions Cloud

Determine two strategies that law enforcement organizations : Determine two (2) strategies that law enforcement organizations can use to ensure that their employees do what is good instead of focusing on what they can get out of a particular situation.
How much will you pay for the companys stock today : Metroplex Corporation will pay a $3.04 per share dividend next year. -how much will you pay for the company's stock today?
Create a multiprotocol operational network using eigrp : Create a multiprotocol operational network using EIGRP, OSPF, and RIPv2 protocol. Implement a secure update of OSPF and EIGRP protocol. Implement virtual link in one segment of the network
When you discharge a patient from an acute care setting : research (find evidence), compose, and type a scholarly paper that describes telenursing as described above, and whether it is a good fit for you. Reflect on what you have learned in this class to date about technology, privacy rights, ethical iss..
Indicate whether consideration is present : Consider the following situations and indicate whether consideration is present and whether Jack has an enforceable agreement:
Describe your experiences related to your setup of mysql : Describe your experiences related to your setup of MySQL. Include any difficulties or issues that you had encountered during the installation.
Voiced concerns about the quality of the bakery : Residents have voiced concerns about the quality of the bakery products served in the coffee shop. Develop a fishbone diagram of possible causes. Describe how the Pan-Do-Check-Act cycle might be implemented as part of a quality management program.
Describe three ways in which you could effectively engage : Describe three ways in which you could effectively engage the audience in your chosen field through the use of PowerPoint 2013 presentations.
Recognize the objectives and expansion opportunities : Analyze the tools used for direct and indirect intervention of the foreign exchange market in regard to fluctuating exchange rates.

Reviews

Write a Review

Finance Basics Questions & Answers

  Financial reporting and analysis

Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..

  A report on financial accounting

This report is specific for a core understanding for Financial Accounting and its relevant factors.

  Describe the types of financial ratios

Describe the types of financial ratios and other financial performance measures that are used during venture's successful life cycle.

  Differences between sole proprietorship and corporation

Briefly describe the major differences between a sole proprietorship and a corporation

  Prepare a cash budget statement

Calculate the expected value of the apartment in 20 years' time. What is the mortgage loan repayment at the beginning of each month

  What are the implied interest rates

What are the implied interest rates in Europe and the U.S.?

  State pricing theory and no-arbitrage pricing theory

State pricing theory and no-arbitrage pricing theory

  Small business administration

Identify the likely stage for each venture and describe the type of financing each venture is likely to be seeking and identify potential sources for that financing.

  Effect of financial leverage

The Effect of Financial Leverage and working capital management

  Evaluate the basis for the payment to the lender

Evaluate the basis for the payment to the lender and basis for the payment to the company-counterparty.

  Importance of opps, ipps, mpfs and dmepos

Research and discuss the differences and importance of : OPPS, IPPS, MPFS and DMEPOS.

  Time value of money

Time Value of Money project

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd