Harry Said to Marge, "I Have a Ring Once Owned

question 53

Multiple Choice

Harry said to Marge, "I have a ring once owned by Marilyn Monroe. Would you like to buy it for $500?" Marge pays for the ring, but the next day a friend tells her that Harry had recently purchased the ring at a local store. Marge enjoys wearing the ring and wears it constantly for twelve months. Finally, she goes to Harry and says, "Here is the ring you lied about. Give me my $500." Most likely Marge will:

• A) get her money back since Harry's statement was fraudulent.
• B) not get her money back since she should have investigated the facts about the ring more carefully.
• C) not get her money back since she is a good faith purchaser of merchandise.
• D) not get her money back since she has affirmed the contract by taking an unduly long time to disaffirm.

Identify characteristics and calculations associated with perpetuities.

Calculate the present and future values given different compounding intervals and rates.

Determine the equivalence of cash flows at different time periods using interest rates.

Calculate and apply compound interest rates to savings and investment scenarios.

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Definitions:

Role Senders

People or entities in an organization that have expectations for the behavior and performance of others, often influencing their roles.

Focal Role

The central or most important role that an entity or individual plays in a specific context or system.

Intragroup Conflict

Disagreements or disputes that occur within a group, team, or organization, which can arise from differences in opinions, goals, or working styles among its members.

Groupthink

A phenomenon in which the desire for harmony or conformity in a group results in an irrational or dysfunctional decision-making outcome.