Question
Wilson, who lives in Brampton, decides to retire and close his advertising business. As a result, Wilson has a large amount of office computer equipment
- Wilson, who lives in Brampton, decides to retire and close his advertising business. As a result, Wilson has a large amount of office computer equipment and furniture that he wants to sell. In order to reach the Toronto market, he advertises the equipment and furniture in the Toronto Globe and Mail newspaper and requests the best offer. On September 10th, Jones, who is looking to start an advertising business and needs office equipment and furniture, sees the advertisement. Jones sends Wilson an e-mail stating that he will buy the equipment for $50,000 cash. On September 11th, Wilson responds to Jones e-mail and says he will only sell for $70,000 cash payable upon delivery of the equipment and furniture to the buyer. On September 12th, Jones sends an e-mail to Wilson saying he will pay $70,000, but only $50,000 in cash on delivery with the balance payable in six (6) months. On September 14th, Wilson sends an e-mail asking if he could pay more of the purchase price in cash on delivery. The next day Wilson faxes Jones and says that he will take the $50,000 cash and the 20,000 payable over six (6) months.
1) An essential requirement for a valid contract is a valid offer and a valid acceptance in response to that offer. Under the legal rules related to offer and acceptance, identify what is the advertisement in the Globe and Mail placed by Wilson?
Question 11 options:
| A ) | Offer |
| B) | Acceptance |
| C) | Inquiry |
| D) | Invitation to treat |
| E) | Counter-offer |
| F) | rejection |
2) An essential requirement for a valid contract is a valid offer and a valid acceptance in response to that offer. Under the legal rules related to offer and acceptance, identify what is Jones e-mail of September 10th?
| A ) | Offer |
| B) | Acceptance |
| C) | Inquiry |
| D) | Invitation to treat |
| E) | Counter-offer |
| F) | rejection |
3) An essential requirement for a valid contract is a valid offer and a valid acceptance in response to that offer. Under the legal rules related to offer and acceptance, identify what is Wilsons e-mail of September 11th?
| A ) | Offer |
| B) | Acceptance |
| C) | Inquiry |
| D) | Invitation to treat |
| E) | Counter-offer |
| F) | rejection |
4)
An essential requirement for a valid contract is a valid offer and a valid acceptance in response to that offer. Under the legal rules related to offer and acceptance, identify what is Jones e-mail of September 12th?
| A ) | Offer |
| B) | Acceptance |
| C) | Inquiry |
| D) | Invitation to treat |
| E) | Counter-offer |
| F) | rejection |
5) that offer. Under the legal rules related to offer and acceptance, identify what is Wilsons e-mail of September 14th?
| A ) | Offer |
| B) | Acceptance |
| C) | Inquiry |
| D) | Invitation to treat |
| E) | Counter-offer |
| F) | rejection |
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Financial Statement Analysis And Earnings Forecasting In Accounting
Authors: Steven J Monahan
1st Edition
1680834509, 978-1680834505
