Bill and Mary sign a contract where Bill is going to deliver 400 pairs of shoes to Mary’s warehouse by noon on Tuesday. The contract states that the shoes will come on 4 wooden pallets. Bill knows that the shoes will come on 4 metal pallets. Mary’s warehouse is full of goods on both wooden and metal pallets. Mary decides she does not want the shoes and sues Bill as a means to rescind the contract based on fraudulent misrepresentation. What is the outcome?

Which of the following statements is correct? stockholders should generally be happier than bondholders to have managers invest in risky projects with high potential returns as opposed to safe projects with lower expected returns. potential conflicts between stockholders and bondholders are increased if a firm's bonds are convertible into its common stock. takeovers are most likely to be attempted if the target firm’s stock price is above its intrinsic value. one advantage of operating a business as a corporation is that stockholders can deduct their pro rata share of the taxes the firm pays, thereby eliminating the double taxation investors would face in a partnership.