Jack mails an offer to Joan that states, "I offer to sell you my car for $2000. If I don't hear from you in 10 days, I will assume you are willing to buy the car for the stated price." Jack hears nothing by the deadline and assumes he has a deal. What is the result?
A) Jack has a deal. His offer was intended and contains definite terms.
B) Jack has a deal. Joan should have responded saying she is not interested in the car if she didn't want to be bound to the offer.
C) Joan is not bound. Generally an offeree must say or do something to accept an offer.
D) Joan is not bound. Ten days is not a reasonable amount of time to consider the offer and accept by mail.
C
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Mohr Company purchases a machine at the beginning of the year at a cost of $24,000. The machine is depreciated using the straight-line method. The machine's useful life is estimated to be 5 years with a $4,000 salvage value. The book value of the machine at the end of year 2 is:
A. $20,000. B. $16,000. C. $12,000. D. $4,000. E. $8,000.
In 2018, the number of online buyers in the United States was over 190 million.
Answer the following statement true (T) or false (F)
How did Subway carry out their experiment to test the effect of $5 subs?
a. They lowered the price of the sub throughout the summer of 2008. b. They tested the price of the sub at selected stores for a limited period of time. c. They tested the price of the sub at their flagship store. d. They conducted a survey to see if people would be willing to purchase the $5 sub.
What are the basic parameters of GATS laid out in the Framework Agreement?
What will be an ideal response?