If goods identified to a contract are destroyed through no fault of either party, both parties are excused from performance.?
Indicate whether the statement is true or false
True
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Sales journals must have a minimum of two columns, one for a debit account and one for a credit account
Indicate whether the statement is true or false
Which is an advantage of leasing from a lessee's viewpoint?
A) The asset can be acquired without having to make a substantial down payment. B) The lease is a way of indirectly making a sale. C) "Off-balance-sheet financing" may be avoided. D) The risk of obsolescence may be increased.
Stelwire LLC, a vintage car dealer, advertises the sale of a 1964 Ford Thunderbolt. Ralph responds to the advertisement with an offer of $80,000 for the car. Stelwire signs a written assurance to keep that offer open to Ralph for a fortnight
Five days before the fortnight is up, Stelwire sells the car to another buyer. At the end of the fortnight period, Ralph tenders $80,000 for the car, but the car has already been sold. Ralph then buys the same model car from another dealer for $90,000 and sues Stelwire for breach of contract. The court rules that Stelwire is liable to Ralph for breach of contract and orders Stelwire to pay Ralph the difference of $10,000 he paid extra to the second dealer for the car. What was the nature of the contract between Ralph and Stelwire? A) counteroffer B) open terms contract C) option contract D) lease contract
How may a business unit choose the criteria for segmenting the market?
What will be an ideal response?