When Parties Fail to Expressly Agree on the Terms of a Sales

question 50

Multiple Choice

When parties fail to expressly agree on the terms of a sales contract,

• A) the contract is automatically void.
• B) the contract will fail if the court finds that the parties are acting as though they have a contract and it is impossible to point to a particular moment in time when the contract was created.
• C) the contract will not be enforceable under the Uniform Commercial Code (UCC).
• D) the contract will not fail if the court finds that the parties intended to make a contract and that their agreement is complete enough to allow the court to reach a fair settlement of their dispute.

Comprehend the principles, such as the rule of reason, guiding the application of antitrust laws.

Recognize prohibited practices under antitrust laws such as tying contracts and monopolistic behaviors.

Distinguish between different antitrust acts (e.g., Sherman Act, Clayton Act) and their objectives.

Analyze notable antitrust cases and their impact on the enforcement of antitrust laws.

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Definitions:

Discount Rate

Discount Rate is the interest rate used in discounted cash flow (DCF) analysis to determine the present value of future cash flows.

Weighted Average Cost

A calculation of the overall cost of goods that are sold, based on the proportionate cost of all items in inventory, factoring in both the cost and the quantity of each item.

Capital Budgeting Models

Techniques used to evaluate the financial attractiveness of investment projects, including Net Present Value (NPV), Internal Rate of Return (IRR), and Payback Period.

After-Tax Cost

The expense associated with any financial transaction or investment after accounting for the effects of taxes, often used in net present value calculations.