BUSINESS QUESTION:

ESSAY QUESTIONS (questions 41 & 42) - use all applicable law and relevant facts to comprehensively answer and explain each question (40 points each question).

Fix-it auto Company contracts to sell a car to Garth for $3,500. Garth gives Fix-It a worthless check for the price. Garth assigns his right to the car to Herb. If Fix-It refuses to deliver the car to Herb and Herb sues, can Fix-It raise Garth's fraud as a defense against delivery of the car to Herb? Explain why or why not.

Quicksilver Delivery Service contracts to deliver Pete's Pizza Parlor's products to its customers for $5,000, payable in advance. Pete's pays the money, but Quicksilver fails to perform. Can Pete's rescind the contract? Can Pete's also obtain restitution? What does it mean to "rescind" a contract? How is a contract rescinded? What is restitution? How is restitution accomplished? Explain.

Suppose a toy craze in Canada makes a particular Swiss-produced toy very popular. What effect would this toy have on the balance of trade? It would tend to affect Canada's balance of payments but not its balance of trade It would tend to increase Canada's balance of trade deficit. It would tend to reduce any existing balance of trade deficit in Canada. It would tend to increase Canada's balance of trade surplus. Suppose the exchange rate between British pounds and Canadian dollars is originally $1.50 per pound. If it then changes to $2 for 1 pound, what will tend to happen to the volume of imports of British goods into Canada? The volume of imports will tend to rise The volume of imports will tend to change in an indeterminate direction The volume of imports will tend to fall. O The volume of imports will tend to stay the same23. Use the following charts to answer questions 23-26 (IC refers to indifference curves and BL refers to budget lines): Chart B Chart A eBooks eBooks IG1 IC1 BL2 BL2\\ IG2 BL1 IC2 BL1 Video games Video games Chart D Chart C eBooks cBooks IC2 IC1 8 BL2 161 BL1 BL 1 BL2 IC2 Video games Video gamesThis Question: 1 pt 16 of 16 (12 complete) Use the periodic compound interest formula How much money will you have in 5 years if you invest $16,000 at a 4.3% annual rate of interest compounded quarterly? A = P|1+ n If the interest is compounded quarterly, the amount after 5 years will be $(Simplify your answer. Round to the nearest cent.)Consider the following information related to the balance of payments, Make sure you understand that these are the dollar values of each Item. You will need to think about whether they show up as a positive or a negative value in the balance of payments. Give all answers to two decimals, Item (in millions of dollars) Exports of goods and services 300.00 Foreign-owned financial assets in U.S. 180.00 Foreign-owned real assets in U.S. 267.00 Imports of goods and services 390.00 Income payments 150.00 Income receipts 225.00 U.S.-owned financial assets abroad 312.00 U.S.-owned real assets abroad 120.00 The trade balance is million dollars