Ravi,an Art Collector,had Been Made a Standing Offer by a Gallery

question 8

True/False

Ravi,an art collector,had been made a standing offer by a gallery to purchase one of his paintings for $150,000.At shows and luncheons of the art community he had previously rejected the entreaties,knowing the painting to be worth at least twice as much.On the latest occasion of a luncheon at which Ravi was deliver an art commentary to the guests,the gallery made its offer once more.To himself,Ravi considered the offer and concluded he could use the charitable tax relief that such a sale at a loss would generate.In the course of his speech,he acknowledged and accepted the offer.Two days later,Ravi's lawyer advised him that the purchasing gallery was NOT a charitable foundation,and no tax deduction for such a "donation" could be expected.Ravi then refused to sell the painting to the gallery.On the strength of the verbal agreement of purchase and sale made in the presence of witnesses,the gallery sued Ravi for breach of contract,and for a decree of specific performance to compel Ravi to sell it the painting.The verbal agreement is unenforceable.

Recognize the influence of sociological factors on personal decisions, such as the decision to attend college, highlighting the role of life chances.

Identify and describe the differences between interdisciplinarity and postdisciplinarity within academic research and discourse.

Understand the relationship between critical thinking and social action at the macro level and the role of higher education institutions in fostering critical engagement.

Describe the concepts of manifest and latent functions and their significance in functionalist theory.

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