Sarah Wanted an Antique Lamp for Her Bedroom

question 178

Multiple Choice

Sarah wanted an antique lamp for her bedroom. While in a second-hand shop, she saw a lamp that she really wanted marked $100. She offered the owner $75 for it. He said "I'll take $95." She answered "$80!" He said, "Lady, you're pushing me a bit, aren't you? I'll take $90, that's it." She said "OK I'll pay $90 if you throw in this old 'Vote-for-Pearson' button." He said, "Forget it, lady, my shop is closed," and asked her to leave. She said, "OK, I accept your offer of $95." He made no response. If she sues for breach of contract, which of the following is true?

• A) There is no contract because his offer to sell for $95 lapsed after a reasonable time.
• B) There is a contract because at one time he offered to sell the lamp for $95 and she accepted it.
• C) There is a contract because he wanted to sell the lamp for $95 and she was willing to pay that much.
• D) There is no contract because his offer to sell the lamp for $95 was rejected by counter-offer, and her offer to buy it for $95 wasn't accepted.
• E) There is no contract because his offers to sell the lamp for $95 and $90 were revoked and he didn't accept her offers.

Grasp the basic concepts of chemical bonds and matter in biology.

Recognize the organization levels of the human body from cells to organ systems.

Understand genetic replication and the potential for errors.

Understand the concepts of adjusting entries and their effects on financial statements.

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Definitions:

Projected Cash Flows

Estimated amounts of money that are expected to move in and out of a business over a future period.

Managerial Options

Options available to management involving strategic choices about the direction and operations of a company, which can include expansions, acquisitions, or product development.

Real Options

Options with payoffs in real goods.

Operating Cash Flow

Measurement of the cash generated by a company's normal business operations.