Tom negotiates with Marion for the purchase of three brand new cars which he had seen...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Tom negotiates with Marion for the purchase of three brand new cars which he had seen advertised in the local newspaper for £10,000 each. They are both local car dealers. Consider the legal position of the buyer in relation to English law of contract and the sale of Goods Act 1979 (as amended) in the following distinct situations: (a) Tom asks Marion to hold-on to the cars for a day or two until he gets a bank loan for the cars. Marion accepts, but when Tom visits Marion's showroom the following day he is informed that Marion had sold the cars. Tom negotiates with Marion for the purchase of three brand new cars which he had seen advertised in the local newspaper for £10,000 each. They are both local car dealers. Consider the legal position of the buyer in relation to English law of contract and the sale of Goods Act 1979 (as amended) in the following distinct situations: (a) Tom asks Marion to hold-on to the cars for a day or two until he gets a bank loan for the cars. Marion accepts, but when Tom visits Marion's showroom the following day he is informed that Marion had sold the cars.
Expert Answer:
Answer rating: 100% (QA)
In the given scenario where Tom asks Marion to hold onto the cars for a day or two until he gets a bank loan for the cars and Marion subsequently sell... View the full answer
Related Book For
Advanced Financial Accounting
ISBN: 978-0137030385
6th edition
Authors: Thomas Beechy, Umashanker Trivedi, Kenneth MacAulay
Posted Date:
Students also viewed these accounting questions
-
Lindsay Kay approached her friend Michael Wait about going into business together as co owners of a gardening centre. Lindsay loved gardening and had some skills as an accountant. Michael was a...
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
Titus-Will Ford Sales, Inc. appeals a judgment for replevin [repossession] of a 1990 Ford pickup truck that Titus-Will had previously sold to dealer/broker James Wilson. Upon consideration of the...
-
What are fintech risks?
-
Figures 16-7 and 16-8 show how a charged rod placed near an uncharged metal object can attract (or repel) electron. There are a great many electrons in the metal, yet only some of them some as shown....
-
Suppose f(x) is the probability density function for the weight of a female college student, where is measured in pounds. (a) What is the meaning of the integral 100 f(x) dx? (b) Write an expression...
-
Develop roleplays to illustrate: a. The difference between ordinary and Knudsen diffusion. b. The difference between Fickian and Maxwell-Stefan diffusion.
-
Consider an 8% coupon bond selling for $953.10 with 3 years until maturity making annual coupon payments. The interest rates in the next 3 years will be, with certainty, r1 = 8%, r2 = 10%, and r3 =...
-
Random variable Y = aX 1. Answer the following: (a) If X Unif[0, 1] and Y = 3 is observed, find the maximum likelihood estimate aML and the density function fY (v)
-
The following presents Oscar Equipment Companys draft financial statements for December 2022, with comparative figures for 2021. Amounts are in $000s. During 2022 (2021), the company declared and...
-
Consider the following freqCoConsider the foConsider the following frequency table representing the scores on a test. Scores on a Test Class Frequency 30-39 12 40-49 3 50-59 4 60-69 6 70-79 11 Step 4...
-
Show that the vectors do not span R by giving a vector not in their span. 0.00
-
The Evanston plant of Fit - for - Life Foods Corporation produces low - fat salad dressing. The following data pertain to the year just ended. \ table [ [ , Units, \ table [ [ Direct Material ] , [ (...
-
The Suez Crisis (1956) How did it effect world trade, logistics, and/or the supply chain? What was the size of the effected area? Did it cause shutdowns or stockouts? Did it force any businesses or...
-
Write a program that computes the average age of adults in a sample population. The program prompts the user to enter the size of the population and then using a for loop, it shall prompt the user...
-
A restaurant has fixed costs of $ 1 3 2 . 5 0 per day and an average unit cost of $ 4 . 7 5 for each meal served. If a typical meal costs $ 6 , how many customers must eat at the restaurant each day...
-
Consider the following figure. 5 N/m 20 m 10 m 20 Nm 1. Derive equations to calculate shear force and bending moment for each segment of the beam. a. Calculate shear force for every two feet of the...
-
A woman at a point A on the shore of a circular lake with radius 2 mi wants to arrive at the point C diametrically opposite on the other side of the lake in the shortest possible A time. She can walk...
-
The consolidated statement of comprehensive income of Top Corporation (TOP) and its subsidiary Bottom Company (BTM) was prepared incorrectly by an inexperienced accounting clerk. You have now been...
-
Renaud Development Corporation (RDC) is a real estate development company that is 60% owned by Bertrand Renaud. RDC has three shareholders: (1) Bertrand Renaud, a major figure in real property...
-
How does the translation of depreciation and amortization differ under the current-rate method as opposed to the temporal method?
-
Ruby Company received a four month, five percent note receivable for \($40,000\) on October 1, 2019. How much interest income should be accrued on December 31, 2019?
-
Nafooz Company pays a two percent credit card fee on all credit sales, and receives a cash deposit immediately following each credit card transaction. If credit sales for the company total...
-
Kelly Company purchased manufacturing equipment for \($20,000\) cash. In addition to the \($20,000\) purchase price, Kelly paid sales tax of \($1,600\), freight costs of \($400\), installation costs...
Study smarter with the SolutionInn App