Present and whether jack has an enforceable

Assignment Help Macroeconomics
Reference no: EM131168275

QUESTION 1: Consider the following situations and indicate whether cconsideration 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?

Reference no: EM131168275

Questions Cloud

Develop a strategic business plan for a new venture : Develop a Strategic Business Plan for a New Venture, Start-up companies are more important in bringing products and services to market
Showing two supply curves for avocados : Draw a clearly-labeled diagram showing two supply curves for avocados: one for December and one for January as described by Mr Allen
Explain how do humans impact the environment : How do humans impact the environment? Can humans improve their environment? If so How? Explain the Green Revolution.
Aspect of the law : Locate an article from your local jurisdiction addressing some aspect of the law. See how many different applications of law you can find (traffic infractions, marriages/divorces, and real estate transactions are just a few).
Present and whether jack has an enforceable : QUESTION 1: Consider the following situations and indicate whether cconsideration 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 fo..
Discuss whether or not humans should strive to preserve : Discuss whether or not humans should strive to preserve representative samples of all biomes on the planet, and if so, how that might be accomplished.
Would advertising cause different effects : Would advertising cause different effects in different parts of the country? Are there different ethical considerations for advertising in different parts of the country? Justify your viewpoint using examples and a reference
Easily made and new solutions : Create a dynamic spreadsheet that not only answers the question of which option is best over a specific time frame, but is also flexible such that changes in the values of variables can be easily made and new solutions provided. The scenario is th..
Tax reduction for large corporations : Which deals with fiscal policy, a tax reduction can be used as an expansionary fiscal policy tool to expand the economy. Do you believe in a tax reduction for large corporations?

Reviews

Write a Review

Macroeconomics Questions & Answers

  What would each political philosophy of utilitarianism

Illustrate what would each political philosophy of utilitarianism, liberalism, and libertarianism likely suggest should be done in this situation.

  West virginia and the highest-wage state

Suppose the lowest-wage state in the United States is West Virginia and the highest-wage state is New York. Which of the following would be true?

  Value of peets coffee both current and future valuation

Elucidate the value of Peets coffee both current and future valuation.

  What are the assets

Balance sheet: equipment = 500, inventories 100, receivables70, payables = 50, debt = 300

  Consumer protection laws

Explain the purpose of consumer protection laws in your own words. Based on your personal experiences, do you think that consumer protection laws are effective? Why or why not?

  Compute a marginal cost and an average cost schedule

Suppose that a firm in a perfectly competitive industry has the following total cost schedule; Compute a marginal cost and an average cost schedule for the firm.

  Scenario one in the early part of the last decade there was

scenario one in the early part of the last decade there was an overproduction of coffee. the price dropped so low that

  Financial intermediaries are pretty crucial

Financial intermediaries are pretty crucial in the market for loanable funds.  What are some examples of financial intermediaries in the market for loanable funds?

  Concerned about drop in export demand

U.S. farmers are concerned about this drop in export demand. What happens to the free-market price of wheat in the U.S.? Do farmers have much reason to worry?

  Congress is considering a tax credit program for those who

congress is considering a tax credit program for those who purchase energy-efficient appliances. proponents of the

  Identify also explain the key features of an oligopolistic

Identify also explain the key features of an oligopolistic industry. Illustrate your answer with reference to an industry of your choice.

  How much of the loss will george and nancy have to absorb

George and Nancy had a $30,000 repair bill on their home after the tornado went through town. Their policy contained the usual 80% co-insurance clause. Their home's replacement value was $150,000; their policy coverage was $110,000 with a $250 ded..

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!

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