Jack and Jill Were Discussing Business Over Lunch When They

question 20

Multiple Choice

Jack and Jill were discussing business over lunch when they agreed on the sale of some goods.Because neither of them had any paper with them,Jack wrote the following on a napkin: "Jill agrees to purchase from Jack,1,000 widgets to be delivered on July 1,2001,at a cost of $10,000,payable on delivery." Jill signed the napkin,although Jack did not sign it.Jack delivered the widgets per the contract,but Jill refuses to pay for them.If Jack sues Jill for the price of the goods,the most likely result is:

• A) Jill will win, because this writing is not sufficient under the Statute of Frauds.
• B) Jack will win, because the writing is sufficient under the Statute of Frauds.
• C) Jill will win, because Jack did not sign the contract.
• D) Jack will win, because the Statute of Frauds does not apply to this situation.
• E) Jill will win, because there was no reasonable basis for her to believe there as an enforceable contract.

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Definitions:

Decision-Making

The process of selecting a course of action among multiple alternatives.

Corporate Strategy

The overarching plan that defines the long-term objectives and direction of a corporation, determining how to allocate resources to meet its goals.

Negotiating Skills

The ability to effectively discuss and reach agreements or compromises between parties with differing opinions or needs.

360-Degree Feedback

is a performance appraisal method where employees receive confidential, anonymous feedback from the people working around them, including peers, subordinates, and supervisors.