Lulene makes the best lemon meringue pies in Mississippi. So Ellen, who owns Ellen's Old Fashion Cafe, contracts with Lulene to buy 50 pies per week at the price of $5.00 per pie. Although Lulene took a class in business law, she forgot to get her agreement with Ellen in writing. Lulene and Ellen agreed during a chat. Lulene said: "I will supply you with lemon meringue pies for however long you
want them at $5.00 per pie." Ellen said: "That's great, I'll take them." Both women were pleased. Soon Lulene had a problem. Between a hurricane in Florida and brush fires in California, the price of lemons increased by 200%. Now, instead of the $5.00 per pie price she intended to charge Ellen, she feels she must charge $7.00 per pie to make a little profit. Lulene calls Ellen with the bad news and Ellen has a fit. She tells Lulene that's too bad, but the deal is off. Lulene says, "That's what you think!" and goes to see Amanda, her attorney. Assume that when Lulene and Ellen entered into the agreement Ellen was an enterprising 16-year-old. In this case:
a. Ellen may not void the contract with Lulene because it was a necessity b. Ellen may not void the contract, but Lulene may based on minority
c. Ellen may void the contract based on minority
d. Lulene may void the contract based on objective insanity e. Lulene may void the contract based on impracticality
c
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Which of the following is NOT one of the ways companies are using mobile apps?
A) utilize GPS data to provide location-based offers B) add social value and entertainment to consumers' lives C) utilize cookies to track mobile activity D) track behavior across tablets and mobile devices E) track loyalty program participation
Which term refers to looking at merchandise at a traditional store and then purchasing the merchandise online?
A) pop-up shopping B) wheel-of-retailing C) off-price retailing D) showrooming E) wholesaling
Use the information in Scenario 4.7. What is the pre-tax cash flow (net present value) for alternative #2 compared to the base case of doing nothing for the next five years?
A) negative pre-tax cash flow B) more than $0 but less than $100,000 C) more than $100,000 but less than $200,000 D) more than $200,000
Jay seeks information about Kim and other well-known businesspersons under the Freedom of Information Act. To obtain the information, Jay must
A. agree not to reveal any trade secrets. B. describe the information. C. get a court order. D. have Kim's and the others' permission.