Gary owns two all-terrain vehicles (ATVs), worth $1,000 and $500, respectively. Helen enters into a contract...
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Gary owns two all-terrain vehicles (ATVs), worth $1,000 and $500, respectively. Helen enters into a contract to buy "Gary's ATV" for $750. Gary believes, in good faith, that he is selling the $500 ATV. Helen believes, in good faith, that she is buying the $1,000 ATV. In this situation: a) Gary is entitled to $750 for the $500 ATV. b) Helen is entitled to the $1,000 ATV for $750. c) Helen must buy both ATVs for $1,500. d) the contract is not enforceable. Gary owns two all-terrain vehicles (ATVs), worth $1,000 and $500, respectively. Helen enters into a contract to buy "Gary's ATV" for $750. Gary believes, in good faith, that he is selling the $500 ATV. Helen believes, in good faith, that she is buying the $1,000 ATV. In this situation: a) Gary is entitled to $750 for the $500 ATV. b) Helen is entitled to the $1,000 ATV for $750. c) Helen must buy both ATVs for $1,500. d) the contract is not enforceable.
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Related Book For
Intermediate Accounting
ISBN: 978-0132162302
1st edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
Posted Date:
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