It is common for transactions to involve multiple contracts. Identify at least four contracts that might be involved in Costello's sale of land to Johnston
Possible contracts include: (a) Costello's contract with a surveyor to specify the boundaries of the property; (b) Costello's contract with a realtor to handle the sale; (c) the parties' contracts with their lawyers to examine the title and handle any legal questions; (d) Johnston's contract with a lending institution to finance the purchase; (e) the contract of sale itself between Costello and Johnston; (f) Costello's contract with the bank when he deposits the proceeds of the sale; (g) if Johnston rents the property, there would be a contract with the tenant; and (h) when Johnston or Costello leaves a car in a lot or garage to attend to any of the matters related to the sale, a contractual relationship exists with the owner of the lot/garage. Students may also think of other reasonable possibilities.
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Exhibit 11-1 On January 1, Year 1, Hills purchased equipment for $350,000. The equipment had an estimated useful life of ten years and an estimated residual value of $50,000. Use the double-declining-balance method to answer the following question(s). ? ? Refer to Exhibit 11-1. How much depreciation should Hills record on the asset in year 2?
A) $16,000 B) $24,000 C) $56,000 D) $48,000
Outline the opportunity process and discuss the qualities necessary for an opportunity to become viable.
What will be an ideal response?
A nonprofit organization is taking steps to ensure its marketing and communication messages align. What is the term used to describe this action?
A. differentiation B. competitive advantage C. strategic communications D. integrated marketing communication
______________ is based on who has the bargaining power between the purchaser and the supplier.
a. Intercultural power b. Interorganizational power c. Interorganizational relationships d. Interpersonal relationships