Romeos Pizzeria is owned by Sarah. Sarah offers to sell her pizza oven to Kramer for $10,000
Question:
Romeo’s Pizzeria is owned by Sarah. Sarah offers to sell her pizza oven to Kramer for $10,000 because she wants to buy a new one. What happens under the following scenarios:
(a) Sarah dies prior to Kramer’s acceptance and when he accepts, he does not know of Sarah’s death.
(b) The day before Kramer accepts, the pizzeria is flooded and the pizza oven is destroyed.
(c) Kramer pays $50.00 for a 30-day option to purchase the pizza oven. Sarah dies during this 30-day period and Kramer accepts knowing of Sarah’s death.
(d) Kramer pays $50.00 for a 30-day option to purchase the pizza oven. Kramer dies during the 30-day period and Kramer’s Estate accepts the offer within the 30-day period.
Engineering Economy
ISBN: 978-0132554909
15th edition
Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling