You are the Chief Operating Officer of Littleco. Over lunch, the President of Bigco offers to sell Littleco a piece of fully depreciated manufacturing equipment you

need for your production line for $1,000. You tell the President of Bigco that you will buy it,

and you shake on it. The Bigco President later changes his mind and decides to keep the

equipment. Littleco sues Bigco

for breach of contract. Assume that the Uniform Commercial Code does not apply.

1. What remedies can Littleco seek against

Bigco?

2. What defenses can Bigco assert?

Please help.

Answers

Answer 1

The Uniform Commercial Code (UCC) does not apply, we will have to consider common law principles of contract law to determine the remedies available to Littleco and defenses available to Bigco.

1.Specific performance

2.Damages

3.Rescission

Defenses available to Bigco:

1.Lack of consideration

2.Mutual mistake

3.Unforeseeable event

4.Duress or undue influence

The Uniform Commercial Code (UCC) does not apply, we will have to consider common law principles of contract law to determine the remedies available to Littleco and defenses available to Bigco.

Damages: Littleco can claim damages for the loss suffered due to the breach of contract. The damages could be compensatory (to cover the direct costs incurred by Littleco due to Bigco's breach) or consequential (to cover any indirect or consequential damages suffered by Littleco due to Bigco's breach).

Rescission: Littleco could also ask the court to rescind the contract, which would cancel the agreement and require both parties to return any benefits received.

Defenses available to Bigco:

Lack of consideration: Bigco may argue that there was no valid contract because Littleco did not provide any consideration (payment or promise of payment) in exchange for Bigco's promise to sell the equipment.

Mutual mistake: Bigco may argue that both parties were mistaken about the subject matter of the agreement (i.e. the equipment) and that the mistake was material enough to make the contract void.

Unforeseeable event: Bigco may argue that an unforeseeable event occurred that made it impossible for them to perform their obligations under the contract (e.g. the equipment was destroyed or lost before the sale).

Duress or undue influence: Bigco may argue that they were forced or influenced to enter into the contract under duress or undue influence.

It's worth noting that the facts provided do not specify whether the agreement was made in writing or orally. If the agreement was made orally, there could be additional complications regarding the enforceability of the contract under the statute of frauds.

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Related Questions

Which one of the following is NOT a factor in determining a company's unit sales and market share for action-capture cameras

Answers

The factor that is not relevant in determining a company's action camera sales and market share in a particular geographic region is the extent to which the number of week-long sales promotions a company has annually is above/below the region's all-company average. Therefore, the correct option is A.

The reason for this is that the number of week-long sales promotions is not directly related to the product's quality or the company's ability to reach its target audience. The other factors listed, such as online price, P/Q rating, wholesale price, and warranty period, are more likely to influence a consumer's purchasing decision and therefore impact the company's sales and market share in a particular region.

Hence, the correct answer is option A: The extent to which the number of week-long sales promotions a company has annually is above/below the region's all-company average.

Note: The question is incomplete. The complete question probably is: Which one of the following is NOT a factor in determining a company's action camera sales and market share in a particular geographic region? a. The extent to which the number of week-long sales promotions a company has annually is above/below the region's all-company average. b. The extent to which a company's online price for its action cameras at its website in each geographic region is above/below the all-company regional average online price. c. The extent to which the company's P/Q rating is above/below the regional average. d. Whether a company's average wholesale price for the camera models it sells to retailers is above/below the regional average wholesale price. e. The length of the warranty period.

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Virgil and Suzanna both apply for the same job. Virgil is 55 and Suzanna is 60. They have the same qualifications and experience. Virgil is turned down and Suzanna is hired. Which of the following is true?

Virgil does not have a case for age discrimination

Suzanna has a case for age discrimination.

Virgil has a case for sex discrimination.

Virgil has a case for age discrimination.

Answers

Virgil has a case for age discrimination.

In this scenario, both Virgil and Suzanna have the same qualifications and experience, indicating that age was the primary distinguishing factor in the hiring decision. Since Virgil, who is 55 years old, was turned down while Suzanna, who is 60 years old, was hired, it suggests that age played a role in the decision-making process.

Age discrimination occurs when an individual is treated unfavorably or denied opportunities based on their age. In this case, the differential treatment between Virgil and Suzanna, solely based on their ages, implies a potential violation of age discrimination laws.

Therefore, the statement "Virgil has a case for age discrimination" is true.

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What is the most utilized part of the corn kernel?

Answers

It’s used for starch

Answer:

endosperm is the correct answer

Allen imports furniture from China. He travels to his suppliers’ businesses three times a year to inspect how the furniture is made, the conditions at the factory, and how much workers are paid. When he is satisfied that the supplier meets his standards for humanitarian treatment of workers and ethical work practices, he places an order for furniture to be made by the company. The suppliers usually require part of the payment upfront or proof that payment will be made on delivery. Because Allen has been in business for many years, and has used the same bank for his business for the entire time he has been in business, he works out an agreement with his banker that the bank will advance him funds for a short-term at prime interest rate plus two percent. What kind of transaction did Allen enter into with the bank?

Answers

Answer:

Unsecured bank loan

Explanation:

Since in the question it is mentioned that Allen has been in business for many years also he used the same bank. As the supplier wants the payment proof so he took an advance funds from the bank for a short period of time with the prime rate of interest and having two percent add on

So this transaction would represent the unsecured bank loan as the bank financed some amount based on the relations maintained between the Bank and Allen for a short period of time without keeping any collateral property

So the same is to be considered

Oriole company has beginning and ending raw materials inventories of $106000 and $130000, respectively. if direct materials used were $290000, what was the cost of raw materials purchased?

Answers

If direct materials used were $290000, the cost of raw materials purchased

$130000-$106000= $24

$290000+$24=$314000

Beginning and ending raw materials inventories

You can find the importance of a company's beginning raw materials inventory by bringing all the direct and indirect materials from the start of a specified duration and adding up their costs to discover their total worth. This is the ending raw materials inventory from the prior accounting period. The second inventory type is work-in-process, which is raw materials that are in the cycle of being transformed into finished interests.

If direct materials used were $290000 the cost of raw materials bought was $314000.

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taylor what happened

Answers

Answer:

whos taylor?

Explanation:

i dont know anyone named taylor so...

Answer:

do fish get thristy? this is a assignment for health

what is the term to describe items that are produced and sold within your own country?

Answers

The term used to describe items that are produced and sold within your own country is domestic goods.

What are domestic goods? Domestic goods are goods that are manufactured or produced within a country's borders and are intended for consumption or investment within the same country. Domestic goods are produced and sold locally within the country, without any international trade. Domestic goods refer to the GDP, which measures the total output of all goods and services produced within a country's borders.

In the field of economics, what is GDP? GDP (Gross Domestic Product) is a measurement of the total monetary value of all finished goods and services produced within a country's borders in a specific period, usually a year. It's the most widely used gauge of a country's economy's size and overall health. It provides a general overview of the country's economic development by measuring the market value of goods and services produced within a country in a particular year.

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The indirect approach to organizing negative messages opens with the reasons behind the bad news before presenting the bad news itself.

question 8 options:
true
false

Answers

It is a true statement that an indirect approach to organizing negative messages opens with the reasons behind the bad news before presenting the bad news itself.

What is an negative messages?

This refers to a kind of letter, memo, news that conveys negative information which will likely to disappoint, upset or anger the reader, listener etc

However, the indirect approach of organizing these negative messages opens with the reasons behind the bad news before presenting the bad news itself.

Therefore, it is a true statement.

Answers

Answer: EIther B or D if i remember correctly, its B

Explanation:

When lowe's builds its home improvement stores in australia and other countries, this level of international business is called ______.

Answers

Answer:direct investment

Explanation:

At the point when Lowe's fabricates its home improvement stores in Australia and different nations, this degree of worldwide business is classified "foreign direct investment" (FDI).

Foreign direct investment alludes to the venture made by an organization from one country into business tasks situated in another country. For this situation, Lowe's, which is a U.S.- based organization, is straightforwardly effective money management its assets, capital, and mastery to lay out and work home improvement stores in Australia and different nations.

FDI permits organizations like Lowe's to extend their market presence universally, tap into new client bases, and make the most of learning experiences in unfamiliar business sectors. It likewise empowers the host nations to profit from expanded open positions, innovation move, and monetary improvement coming about because of the presence of a global company.

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please i need help with this !!

Answers

Answer:

Save

Measure

Notes

Services

Money

Barter

Swapped

Forms

Which of the following would be more typically the responsibility of a controller rather than a treasurer?A) Overseeing accounting and tax functionsB) Capital budgetingC) Managing creditD) Making investment decisions

Answers

overseeing accounting and tax functions would be more typically the responsibility of a controller rather than a treasurer.

Who is considered as treasurer?An organization's treasurer is in charge of managing its finances. Cash and liquidity management, risk management, and corporate finance are among a corporate treasurer's important primary responsibilities. The major responsibilities of a treasurer include supervising the organization's financial management, reviewing policies and financial reporting, advising the board on financial strategy, and providing fundraising advice. A treasurer, often known as a financial controller, is responsible for supervising all financial activities and fundraising attempts made by an organizing committee. Their main responsibilities include managing incoming and outgoing funds, maintaining records, and establishing the budget.A controller, not a treasurer, would normally be in charge of supervising accounting and tax functions.

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Write a summary about New Zealand's population and Economic
statistics and activity (GDP, GDP per capita, wealth distribution,
discretionary income, etc.). Include details.

Answers

New Zealand has a relatively small but well-developed economy with a population of approximately 5 million people. GDP and GDP per capita are important indicators of economic activity and average income levels. While New Zealand experiences some level of wealth inequality, discretionary income can vary among individuals based on various factors.

New Zealand's population and economic statistics and activity can be summarized as follows:

Population: As of my knowledge cutoff in September 2021, New Zealand had a population of around 5 million people. It is worth noting that population figures can change over time, so it is recommended to refer to the latest available data for the most accurate information.

GDP: New Zealand has a relatively small but well-developed economy. In 2020, the country's gross domestic product (GDP) was approximately $205 billion in nominal terms. GDP measures the total value of goods and services produced within a country's borders over a specific period. Again, it is important to consult up-to-date data for the latest GDP figures.

GDP per capita: To assess the average economic well-being, GDP per capita is a useful indicator. As of 2020, New Zealand's GDP per capita was around $41,000, which indicates the average income generated per person in the country. This figure takes into account the size of the population and provides insights into the overall economic prosperity.

Wealth Distribution: Wealth distribution refers to how financial resources are distributed among individuals or households in a country. In New Zealand, there is some level of wealth inequality, as is the case in many other countries. While the exact distribution figures may vary, it is generally recognized that a relatively small portion of the population holds a significant portion of the country's wealth.

Discretionary Income: Discretionary income is the amount of money that households have available to spend or save after paying for necessities such as housing, food, and utilities. The discretionary income of individuals in New Zealand can vary based on factors such as income levels, household size, and personal financial circumstances. It is influenced by factors like employment rates, wage levels, and cost of living.

The summary provides a brief overview of New Zealand's population, economic statistics, and activity. It highlights key indicators such as GDP, GDP per capita, wealth distribution, and discretionary income to provide insights into the country's economic landscape.

It is essential to refer to the latest available data for the most accurate and up-to-date information on New Zealand's population and economic statistics.

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Ilene rents a property for the entire year. During the year, Ilene reported a net loss of $10,700 from the rental. If Ilene is an active participant in the rental and her AGI is $142,500, how much of the loss can she deduct against ordinary income in the year?rev: 12_10_2019_QC_CS-193235Multiple Choicea. $10,700.b. $6,950.c. $3,750.d. $0.

Answers

Ilene can deduct $3,750 of the loss against ordinary income in the year. This is because as an active participant in the rental, she can deduct up to $25,000 of rental losses against ordinary income if her AGI is less than $150,000.

However, since her AGI is $142,500, the deduction is reduced by $0.50 for each dollar of AGI above $100,000, which in Ilene's case is $42,500. Therefore, the maximum deduction she can claim is $25,000 - (($142,500 - $100,000) x 0.5) = $3,750. The remaining $6,950 of the loss can be carried forward to future years to offset rental income or gains. So, the answer is option c. $3,750.
Ilene's rental property loss falls under the IRS rules for passive activity losses. As an active participant with an adjusted gross income (AGI) of $142,500, she can potentially deduct some of her losses against her ordinary income.

The IRS allows deductions for rental property losses up to $25,000 per year for taxpayers with an AGI of $100,000 or less. However, the deduction amount gradually phases out by $1 for every $2 of AGI exceeding $100,000. Since Ilene's AGI is $142,500, she exceeds the threshold by $42,500.

To calculate the reduction in deductible losses, divide the excess AGI by 2: $42,500 / 2 = $21,250. Next, subtract this amount from the $25,000 maximum deduction: $25,000 - $21,250 = $3,750.

Therefore, Ilene can deduct $3,750 of her net loss from the rental property against her ordinary income for the year. The correct answer is (c) $3,750.

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an agent has a client that requires a certain sum of money for the sale of her house. she explains that anything above this amount, the agent can keep as commission. what type of listing is this?

Answers

The type of listing in which an agent has a client that requires a certain sum of money for the sale of her house and explains that anything above this amount, the agent can keep as commission is a net listing.

What is a Net Listing?

A net listing is an agreement between a property owner and a broker/real estate agent. This agreement sets the minimum price that the owner is willing to accept for the property and anything above this amount is the broker's commission.

The broker has an incentive to sell the property for the maximum price possible in a net listing. Furthermore, a net listing is generally illegal in some jurisdictions because it allows brokers to earn excess commission while posing a conflict of interest. However, the downside of net listings is that they pose a potential conflict of interest between the real estate agent and the seller.

Because the listing broker receives the surplus over the minimum agreed-upon sale price, this type of listing can sometimes encourage the broker to set the lowest possible selling price.

For the sake of transparency and fairness, a net listing is usually prohibited or highly regulated in most jurisdictions.

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In economics a computer bought by a firm for its account keeping is classified differently to a computer bought by an individual for playing games and surfing the internet. Explain why.

Answers

Answer:

Explanation:

In some ways, a debit card is more vulnerable to theft than cash or a checkbook. Explain how this is so. << Read Less

Answers

A debit card is more vulnerable because its contained value are sometimes high.

A debit card is a card issue to a bank account owner to enable easy access to money.

This card works by deducting money directly from the owners checking account with a bank.

A debit card can also be termed a money because its contains value and can be used pay for transaction at any point of sales.

The debit card are more vulnerable because the value therein may be large, so, fraudsters target stealing the card rather than stealing cash or checkbook.

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Which of the following is true of brand personalities?

They are not as important as brands' names and logos

They are determined by consumers' perceptions, but influenced by the process of branding

They are determined by the process of branding, but influenced by consumers' perceptions

They are not developed until a brand is nationally known

Answers

Answer:

they are determined by consumer's perceptions, but influenced by the process of branding is answer.

Explanation:

I hope it's helpful!

Having just graduated with a degree in business, Brianna looks over several offers she has received from companies interested in her talents. She is specifically interested in the wage setup each company is offering. One wants her to manage a small store; this would be a salaried position. Another would have her working in a sales office on commission. The third is a spot in a paper company as an hourly sales manager. Brianna has been offered a chance to do per-project work for a retail company, but she would be an independent contractor. Compare and contrast these

Answers

Answer:She's just getting started financially and decides not to join her field's major professional association because she thinks it's not worth the annual fee.

Explanation:There u GO!!<3:)

In the accompanying pizza market, with a $2 tax imposed on the sellers, how much of the tax is paid by the buyers and how much of the tax burden is borne by the sellers? (on the graph, where the tax wedge is, $11.50 is hitting the demand curve while $9.50 is hitting the supply curve)

Answers

In the accompanying pizza market, the tax burden is shared between the buyers and the sellers. Specifically, the buyers pay $1 of the $2 tax, while the sellers pay the other $1.

How the tax wedge effects equilibrium price

The tax wedge (the difference between the price paid by buyers and the price received by sellers) is $2, but it only affects the equilibrium price by $1.50 ($11.50 - $9.50).

The buyers must pay this extra $1.50, which includes both the $1 tax they directly pay and the $0.50 increase in price they face due to the reduced supply resulting from the tax.

The sellers also bear some of the burden of the tax, as they receive $1 less per pizza than they did before the tax was imposed.

Overall, the incidence of the tax is split between buyers and sellers, with each group bearing some of the burden.

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Which strategy best helps a famous brand company reach consumers?

selling at trade shows
sending out mailings in small towns
advertising nationally
marketing selectively

Answers

Answer:

C.) advertising nationally

Explanation:

This is the correct answer. The person above may only have a 3-star rating, but they are correct.

The correct answer is C.) advertising nationally This is the correct answer. when The person above may only have a 3-star rating, also but they are correct.When National advertising is any advertising that is placed by a company, organization, or individual that is operated on a national or regional (multi-state) basis.

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in thinking about how the pandemic of 2020 impacted markets, which of the following are examples of price discrimination? which are not?

Answers

The following are examples of price discrimination:

Charging a cheaper price for bulk purchases of tissue paper.

Offering seniors a discount

Selling nose masks at different prices.

The following are not examples of price discrimination:

Having senior hours.

What is price discrimination?

Price discrimination is when the same product is sold at different prices to different groups of customers.

First degree price discrimination is a type of discrimination where the sellers charge each consumer at their willingness to pay in order to eliminate consumer surplus.

Second degree price discrimination is a type of price discrimination where firms offer different prices depending on the quantity purchased. e.g. selling tissue papers bought in bulk for cheaper.

Third degree price discrimination is a type of discrimination where a business charges different prices to different groups of customers. e.g. Selling nose masks at different prices to different groups of consumers.

Here are the options:

Stores across the United States created “Seniors Hours” during the pandemic, limiting access to stores during certain times to consumers over 60 or with health concerns.

Vera Bradley, a popular woman's retailer, sells two versions of face masks. It costs the firm the same amount of money to produce each mask. However, it sells the mask made of recycled material to customers who identify as eco-friendly for a higher price. It sells the other nonrecycled-material mask to price-sensitive customers.

Toilet paper quickly became a hot commodity during the pandemic, with retailers charging less per unit for packs of toilet paper than they charged for just single rolls.

During the pandemic, restaurants continued to offer discounted Early Bird specials to seniors.

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An effective decision maker ensures quality information by: A. Discounting conflicting opinions. B. Defending baseline data from reports received from other sources. C. Validating information to be true and accurate. D. Avoiding secondary sources of information.

Answers

The correct answer is C. Validating information to be true and accurate

Explanation:

The process of making decisions involves analyzing the options available through different sources of information. For example, if you are planning to go on vacation but you have not chosen the destination you can read articles about the best places to visit to take an informed decision.

Besides this, the process of finding and reading information to make a decision involves making sure the information is high-quality information, this can be done by analyzing whether the information in the source is supported, updated and written by an expert in the field, which shows the information is true and accurate and guarantees you have reliable information to make a decision. Thus, an effective decision maker ensures quality information by "validating information to be true and accurate".

about how long will it take Levi’s investment of $350 to double if it earns 14.5% simple interest?

A. 5 years
B. 6 years
C. 7 years
D. 8 years

Answers

Answer:

A. 5 years

Explanation:

Present value = $350

Future value = $700

Interest = 14.5%

Number of years = Nper (-Pv, Fv, I)

Number of years = Nper (-350, 700, 14.5%)

Number of years = 5.119080084

Number of years = 5 years

If you pick up a rider for an Uber X trip, how
do you determine the route?

Answers

Answer: Go into the app, then there should be a map button or route button. Click on it and then press route.

Explanation:

A new business has total sales of $14,000, applied $1,350 in merchandise discounts, and had returns of $234. Calculate the business's total net sales.

Answers

Answer:

$12,416

Explanation:

Applied merchandise discounts mean discounts issued.

The net sales will be total sales minus merchandise discounts applied minus returns.

Net sales = total sales - ( discounts + returns)

Net sales = $14,000 - ( $1,350 + $234)

Net sales = $14,000 - $1,584

Net sales = $12,416

O que é locução verbal?

Answers

Answer:

verbal expression - the communication (in speech or writing) of your beliefs or opinions; "expressions of good will"; "he helped me find verbal expression for my ideas"; "the idea was immediate but the verbalism took hours"

expressão verbal - a comunicação (oral ou escrita) de suas crenças ou opiniões; “expressões de boa vontade”; "ele me ajudou a encontrar expressão verbal para minhas idéias"; "a ideia foi imediata mas o verbalismo demorou horas"

Explanation:

brainliest please?

coroa please?

are the costs related to the product that have to be paid regardless of the amount you sell.

A) Fixed cost

B) Opportunity costs

C) Variable costs

D) none of the above

Answers

Answer:

C) Variable costs

Explanation:

suppose an investor earned a semiannual yield of 6.4 percent on a bond paying coupons twice a year. what is the effective annual yield (eay) on this investment? (round to two decimal places.)

Answers

The effective annual yield on this investment is 6.50%

What is the effective annual yield?

The effective annual yield is the actual rate of return that is earned on an investment after accounting for the number of compounding on the investment. The number of compounding is the number of times that the investment earns interest.

Effective annual yield = (1 + APR / m ) ^m - 1

Where, m = number of compounding

EAY Effective annual rate = (1 + APR / m ) ^m - 1

M = number of compounding

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EAY = (1 + 0.064/2)^2 - 1 = 0.06502 = 6.50%

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An innovative business idea that no one has never had

Answers

An innovative business idea that no one has never had is Offering virtual assistance to other businesses.

What is innovative business idea ?

innovative business idea can be described as an idea in business that cn be developed so that it can be a way to earn a living by providing the services or the goods to the consumer.

It should be noted that this innovation can be the one that no one has ever done or the modification of the one that has been in exisitence, however providing the virtual assistance serves as one of the innovation in business that can ring profit.