Ask Question
BusinessBusiness
11 February, 15:36

Troy, who is 18, offers to sell Jenna, who is also 18, his car for $5,000. Jenna accepts Troy's offer, but only agrees to pay $4,500 for the car. Which of the following contract elements has not been met? a. Legality. b. Contractual Capacity. c. Acceptance. d. Offer.

+5
Answers (1)
  1. 11 February, 18:41
    0
    Acceptance

    Explanation:

    For a contract there are some certain conditions to be fulfilled, to call it valid. This includes the basic two things:

    Offer and acceptance.

    Offer refers to the option provided by a party in the contract and that there is acceptance from opposite party to accept the offer, and when it is accepted as the offer itself, then the contract is valid.

    In the given instance there is an alteration in the acceptance conditions as not same like offer. The offer price is $5,000 and that the acceptance price is $4,500.

    Thus, there is no acceptance in this contract. Rather there is counter offer.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Troy, who is 18, offers to sell Jenna, who is also 18, his car for $5,000. Jenna accepts Troy's offer, but only agrees to pay $4,500 for ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
The following data relate to direct labor costs for the current period: Standard costs 7,300 hours at $11.60 Actual costs 6,000 hours at $10.40 The direct labor time variance is a.$15,080 unfavorable b.$13,520 favorable c.$13,520 unfavorable d.
Answers (1)
Which of the following is true of workers' compensation? A worker who receives workers' compensation cannot sue his or her employer. Workers' compensation is awarded as punitive damages of a lawsuit initiated by an injured employee.
Answers (1)
The type of budget that budgets standard costs for the actual volume of production is a
Answers (1)
A transportation firm whose services are available to all shippers is a common carrier. a. true b. false
Answers (1)
Sanchez Company's output for the current period was assigned a $419,000 standard direct labor cost. The direct labor variances included a $10,475 unfavorable direct labor rate variance and a $4,190 favorable direct labor efficiency variance.
Answers (1)
New Questions in Business
The budgeted production of Capricorn, Inc. is 13 comma 000 units per month. Each unit requires 40 minutes of direct labor to complete. The direct labor rate is $ 100.00 per hour. Calculate the budgeted cost of direct labor for the month.
Answers (1)
If the price level doubled in a 23-year period, we can conclude that the average annual rate of inflation over that period was about 3 percent. a) true b) false
Answers (1)
Journalize the entries to record the following selected transactions: Sold $62,800 of merchandise on account, subject to a sales tax of 5%. The cost of the merchandise sold was $37,500.
Answers (1)
Which of the following is a factor to be considered in determining a limited-life intangible asset's useful life? (a) Any legal provisions that may limit the useful life. (b) The expected useful life of any related asset.
Answers (1)
If you see a large group of stranded passengers standing next to a disabled bus, and you have only three seats in your car, deciding who to rescue deals with the issue of:a) efficiencyb) equityc) scarcityd) macroeconomics
Answers (1)
Home » Business » Troy, who is 18, offers to sell Jenna, who is also 18, his car for $5,000. Jenna accepts Troy's offer, but only agrees to pay $4,500 for the car. Which of the following contract elements has not been met? a. Legality. b. Contractual Capacity. c.
Sign Up Forgot Password?