Question: Morgan owned logging equipment, which was then working in a forest in a remote area. While in the city, Morgan met and discussed business with

Morgan owned logging equipment, which was then working in a forest in a remote area. While in the city, Morgan met and discussed business with Henri, and wound up selling the logging equipment to him. Their agreement stated that payment would be made at the end of the month. A forest fire destroyed the equipment two days before the end of the month.

Discuss the rights of the parties.

Step by Step Solution

★★★★★

3.41 Rating (167 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Answer See in above condition first of all Morgan sale logging equipment to Henr... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

On January 2, Year 4, Poplar Ltd. purchased 80% of the outstanding shares of Spruce Ltd. for $1,900,000. At that date, Spruce had common shares of $500,000 and retained earnings of $1,150,000 and...

A deposit of 1 is made at the end of each year for 30 years into a bank account that pays interest at the end of each year at j per annum. Each interest payment is reinvested to earn an annual...

The first sale to the general public of stock in a corporation is referred to as A public bond offering. O An initial public offering. O An original public sale. O A public stock auction.

The following forecasts were made at the end of 2012 for a firm with net operating assets of $1,135 million and net financial obligations of $720 million (in millions of dollars): The required return...

Case 6: 5 points Morgan owned logging equipment, which was then working in a forest in a remote area. While in the city, Morgan met and discussed business with Henri, and wound up selling the logging...

1. Sam orally agreed to sell Jamie some land for $500,000. Jamie paid Sam the $500,000; Sam gave Jamie the deed to the land. Jamie took possession of the land and began building a cabin on it. One...

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...

Review case 4.1 Enron Corporation and Andersen, LLP . Complete the following Required questions related to this case, 1-5, in approximately 75 to 90 words. QUESTIONS TO BE ANSWERED: Review case 4.1...

Divvy Bikes Background Information: Divvy is a bicycle sharing system in the City of Chicago and two adjacent suburbs that is operated by Motivate for the City of Chicago Department of...

Go towww.canlii.org and search "Wallace v. United Grain Growers ltd" https://canlii.ca/t/1pfl8 (or see below) Review the case Using the following questions as your guideline, summarize your...

Need help with the following task below: Scenario Prior to commencing your role as site supervisor, you will need to ensure that you are familiar with Australia Wide Landscaping standards, values,...

Consider A (a) Show that A is not invertible by finding a nonzero 1 Ã 3 matrix Y such that YA = 0. [Row 3 of A equals 2(row 2) - 3 (row 1).] (b) Show that B is not invertible. [Column 3 =...

How was social media related to Nasty Gal's business model? To what extent was Nasty Gal a "social" business?

On Aprit tho Nayomi craphed a new travel agency, Adverture Traect The fallowing tranactions occurred duing the company's frrt month. Meak. Aprit. 2 4 The company cellected sse, side cash fier...

1. What is the main research method linguistic anthropologists (and cultural anthropologists) rely on? (Please choose only one answer.) O Questionnaires Archival research O Participant observation O...

What is the relationship between regular physical activity, health promotion, and disease prevention? I want a short answer that is a couple of sentences.

1) What causes the most damage in a bomb blast? 2) How do you think intentional bombers enhance (add on) to this effect?

On a scale of 1 to 5, to what extent was the Red Scare of the 1920s justified? (1 = not justified / 5 = totally justified)

What are the truth sets of the predicates P(x), Q(x), and R(x), where the domain is the set of integers and P(x)is "|x|=1," Q(x) is "x2 =2," and R(x) is "|x|=x."

which of those is a correct match for the following answer for this Real estate agents must provide a full and accurate description of the characteristics of a property. All statements about the...

Hi, first I wanna say that the answer is ALREADY GIVEN for both examples, but I have a small confusion. In the 1st example for December 31,2018 we took 10% of 110,000(100,000+ 10,000 interest) =...

Part - 1 P11-2 (L01,2) (Depreciation for Partial PeriodsSL, Act., SYD, and Declining-Balance) The cost of equipment purchased by Charleston, Inc., on June 1, 2017, is $89,000. It is estimated that...

Oriole Logging and Lumber Company owns 2 , 7 7 0 acres of timberland on the north side of Mount Leno, which was purchased in 2 0 0 8 at a cost of \ ( \ $ 5 6 0 \ ) per acre. In 2 0 2 0 , Oriole began...

Individual Case Davie Jones Equipment Rental (DJER) is a small commercial equipment rental company located in a smaller city in British Columbia. The company has been in existence for 25 years and...

Read the situation below and determine which of the three applicants should be hired.You must hire one of the three people, even though none are perfect candidates. Write decision supporting the...

[20 Marksl Question 5 An Iwi (Social unit of New Zealand indigenous people) has the opportunity to purchase from the Crown (Central New Zealand Government) the right to log a forest. If the Iwi...