Give an example of each of the following:
a. Unilateral mistake
b. Mistake in the meaning of a contract term.
a . Nancy offers to sell Sidney a certain boat. Sidney believes the boat is a valuable antique with significant collector's value. Nancy makes no misrepresentations with regard to its value, but asks for $5,000 more than the appraised value. Sidney pays the asking price, because he thinks it is worth more. If the boat is not an antique collectible, and Sidney has paid more than the boat is worth, he has no recourse.
b. Florence agrees to buy Henry's "car" for $2,000, believing it is Henry's 1990 automobile. In reality, Henry wants to sell his 1981 vehicle. If neither party was at fault, but both held their belief in good faith, there is no manifestation of mutual assent and no contract.
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Which of the following is an effective way to target discounts and other incentives to households that are particularly sensitive to price?
A) couponing B) market development funding C) off-invoice allowance D) sampling
In a sales-leaseback transaction
A) the sale and leaseback are treated for accounting purposes as separate transactions. B) any profit on the sale should, in general, be deferred and amortized by the seller-lessee. C) any loss up to the amount of the difference between undepreciated cost and fair value should be deferred and amortized by the seller-lessee. D) any lease of land alone must be classified as an operating lease.
In 2002, the United States Congress created the Consumer Financial Protection Bureau (CFPB) as part of the Sarbanes-Oxley Act.
Answer the following statement true (T) or false (F)
A firm can successfully break through the clutter of competitors who are making similar claims by
A) taking its message global. B) organizing edgy, barely legal publicity stunts. C) over-inflating product benefits. D) relying solely on non-media connectors. E) finding the right hook for its pitch to target media.