Jill contracted to purchase Kevin's automobile under the belief that she could sell it at a profit to Linda, but after Jill bought the car, she found out that Linda isn't interested in buying it. Jill:
A) cannot void the contract with Kevin.
B) can rescind the agreement with Kevin.
C) could rescind the agreement with Kevin if she was mistaken in her estimate of the value of the auto.
D) can sue Linda for detrimental reliance.
A
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A ____ is a group of people who come together to share information, experiences, tips, and best practices. Goals of these groups are to avoid reinventing the wheel and look for innovative ways to overcome challenges.
A. community of practice B. mentoring group C. social media group D. knowledge base
Which of the following is not true?
a. Gains (losses) are increases (decreases) in assets from peripheral or incidental transactions of an entity and from other transactions and events affecting the entity except those that result from revenues (expenses) or investments by (distributions to) owners. b. Firms usually report gains and losses from sales of assets or settlements of liabilities at a net amount; that is, equal to the difference between the net asset received and the carrying value of the asset sold or between the net asset given and the carrying value of the liability settled. c. Gains and losses may arise from the remeasurement of assets and liabilities. d. Firms realize gains and losses when they sell or exchange assets or settle liabilities in market transactions. e. Firms recognize gains and losses when those items enter the measurement of net income or other comprehensive income.
Define the term intentional iteration and explain why it is important.
What will be an ideal response?
A promise to pay a debt for which a statute of limitations bars recovery is an unenforceable promise.
Answer the following statement true (T) or false (F)