Ichiro and Emily Discussed the Possibility That He Might Buy

question 40

Essay

Ichiro and Emily discussed the possibility that he might buy a painting from her at a price of $100 000.Both parties wanted the sale to occur, and both were confident that Ichiro would be able to secure bank financing for the transaction.However, the parties also agreed that neither should have any obligations unless and until such financing was arranged.Explain how Ichiro and Emily can best achieve that result.

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Definitions:

Retailing

The selling of goods and services to consumers for personal or household use.

Convenience

The ease and efficiency with which a product or service can be acquired or used by the consumer.

Wells Fargo

A multinational financial services company headquartered in the United States, offering banking, investment, and mortgage products and services, among others.

Retail Customers

Individuals or entities that purchase goods or services for personal use from any retail environment, not for resale or business use.