Business, 22.02.2021 18:50 cairolove228
Written contracts provide certain advantages that oral contracts lack. Disputes about the specifics of the terms in an oral contract are easier to settle when the terms are solidified in writing. The moment of writing also allows both parties to reconsider their terms and ensure that they are advocating what they desire in the contract. In general, written contracts smooth the conduct of business transactions. Some contracts thus require a writing.
Read the hypothetical case below, and answer the questions that follow, providing a full explanation of your answers..
Suppose the local Honda dealership is offering a special lease deal on the 2010 Honda Accord LX Coupe. With a 36-month lease, the monthly price is $219, not including tax. The lease also requires a down payment of approximately $2,380, plus the first month's payment and sales tax on the down payment. Nigel decides he wants to lease the Accord, and he enters into a contract with the Honda dealership. He makes his lease payment every month for 36 months and subsequently drives the vehicle for 36 months. (Assume that the terms of his contract mean the contract cannot possibly be performed within a year.)
1. Based on the terms of this contract, how long would the performance of the contract take? Would this contract fall within the statute of frauds?
2. Suppose that the terms of Nigel's contract changed. Suppose that instead of a 36-month car lease, Nigel enters into a lease for the Accord for 6 months. The 6-month lease is set to begin on the day he creates the contract at the Honda dealer and end 6 months later. Does this contract need to be in writing to be enforceable?
3. Suppose that instead of leasing the Accord, Nigel decides to buy the Honda Accord for $22,180. Would this contract need to be in writing to be enforceable?
4. Suppose that Nigel enters into the sales contract from the previous question (he buys the Accord for $22,180). The Honda dealership wrote the agreement, and Nigel was the only party to sign. Based on this information, who could sue about the agreed-upon terms of the contract if there was a problem?
Answers: 2
Other questions on the subject: Business
Business, 22.06.2019 08:30, rajenkins79
Kiona co. set up a petty cash fund for payments of small amounts. the following transactions involving the petty cash fund occurred in may (the last month of the company's fiscal year). may 1 prepared a company check for $350 to establish the petty cash fund. 15 prepared a company check to replenish the fund for the following expenditures made since may 1. a. paid $109.20 for janitorial services. b. paid $89.15 for miscellaneous expenses. c. paid postage expenses of $60.90. d. paid $80.01 to the county gazette (the local newspaper) for an advertisement. e. counted $26.84 remaining in the petty cashbox. 16 prepared a company check for $200 to increase the fund to $550. 31 the petty cashier reports that $380.27 cash remains in the fund. a company check is drawn to replenish the fund for the following expenditures made since may 15. f. paid postage expenses of $59.10. g. reimbursed the office manager for business mileage, $47.05. h. paid $48.58 to deliver merchandise to a customer, terms fob destination. 31 the company decides that the may 16 increase in the fund was too large. it reduces the fund by $50, leaving a total of $500.
Answers: 1
Business, 22.06.2019 11:30, emocow
1. regarding general guidelines for the preparation of successful soups, which of the following statements is true? a. thick soups made with starchy vegetables may thin during storage. b. soups should be seasoned throughout the cooking process. c. finish a cream soup well before serving it to moderate the flavor. d. consommés take quite a long time to cool. student c incorrect
Answers: 2
Business, 22.06.2019 19:30, smokey19
The usa today reports that the average expenditure on valentine's day is $100.89. do male and female consumers differ in the amounts they spend? the average expenditure in a sample survey of 47 male consumers was $135.67, and the average expenditure in a sample survey of 38 female consumers was $68.64. based on past surveys, the standard deviation for male consumers is assumed to be $34, and the standard deviation for female consumers is assumed to be $17.
Answers: 1
You know the right answer?
Written contracts provide certain advantages that oral contracts lack. Disputes about the specifics...
Questions in other subjects:
Mathematics, 21.11.2019 09:31
Social Studies, 21.11.2019 09:31
