subject
Business, 24.03.2020 05:41 yurrrkassi

Tommy McCartney is a sixteen-year-old high school student. He has worked forty hours per week at the local convenience store over the last year, and has diligently saved $6,000 for the purchase of his first car. While visiting a local car dealership, Tommy finds the "car of his dreams," a used yellow Camaro. Tommy walks into the dealership, announces to the dealership owner that he is "ready to buy," negotiates $6,000 as the purchase price, and leaves the dealership a proud car owner. Over the course of the next six months, Tommy drives the Camaro eight thousand miles, wears the tires thin, dents the left front fender, and regrets his purchase. He realizes that in two short years college will beckon, and he knows that his parents cannot afford to pay for his higher education. In short, he wants his money back. On a Saturday morning, Tommy returns to the car dealership, walks into the sales office, and hands the keys to the seller, asking for the return of his $6,000. The dealer chuckles, and then his look turns stern, saying "Son, I don’t owe you anything. You’ve just learned a lesson in the ‘School of Hard Knocks.’ The car is still yours, and the money is still mine!"Who will prevail? Is it legal and/or ethical to allow Tommy to escape his contractual obligations?

ansver
Answers: 2

Another question on Business

question
Business, 22.06.2019 05:30
In most states, a licensee must provide a(n) of any existing agency relationships to all parties
Answers: 3
question
Business, 22.06.2019 06:10
P11.2a (lo 2, 4) fechter corporation had the following stockholders’ equity accounts on january 1, 2020: common stock ($5 par) $500,000, paid-in capital in excess of par—common stock $200,000, and retained earnings $100,000. in 2020, the company had the following treasury stock transactions. journalize and post treasury stock transactions, and prepare stockholders’ equity section. mar. 1 purchased 5,000 shares at $8 per share. june 1 sold 1,000 shares at $12 per share. sept. 1 sold 2,000 shares at $10 per share. dec. 1 sold 1,000 shares at $7 per share. fechter corporation uses the cost method of accounting for treasury stock. in 2020, the company reported net income of $30,000. instructions a. journalize the treasury stock transactions, and prepare the closing entry at december 31, 2020, for net income. b. open accounts for (1) paid-in capital from treasury stock, (2) treasury stock, and (3) retained earnings. (post to t-accounts.) c. prepare the stockholders’ equity section for fechter corporation at december 31, 2020.
Answers: 1
question
Business, 22.06.2019 08:30
Hi inr 2002 class! i just uploaded a detailed study guide for this class. you can check-out a free preview by following the link below feel free to reach-out to me if you need a study buddy or have any questions. goodluck!
Answers: 1
question
Business, 22.06.2019 12:30
In the 1970s, kmart used blue light specials to encourage customers to flock to a particular department having a temporary sale. a spinning blue light activated for approximately 30 seconds, and then an in-store announcement informed shoppers of the special savings in the specific department. over time, loyal kmart shoppers learned to flock to the department with the spinning blue light before any announcement of special savings occurred. if kmart was employing classical conditioning techniques, what role did the spinning blue light play?
Answers: 3
You know the right answer?
Tommy McCartney is a sixteen-year-old high school student. He has worked forty hours per week at the...
Questions
question
Mathematics, 10.11.2020 02:00
question
Mathematics, 10.11.2020 02:00
question
Mathematics, 10.11.2020 02:00
Questions on the website: 13722367