H2 You are a new sales representative for Myco Equipment Corporation. You take Sam, a new customer, out to dinner.After dinner, you have shaken hands on a deal to sell the customer nearly $200,000 worth of equipment.In writing the formal contract the next morning, you discover that you miscalculated the equipment price. (Yikes!)Your error could cost your company, Myco, $50,000. (And it could also cost you your job!)You phone your customer and explain the situation.Please answer these questions:1) Is the "deal" you made at dinner an enforceable contract?2) Does your mistake permit you to get out of an enforceable contract?3). What do you think should happen in this situation?Your response should be at least 300 words.

When one of the agreed-upon terms and conditions is broken, there has been a binding contract…

Answered: You are a new sales representative for…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Can I please get help with this question? [The following information applies to the questions displayed below.] Franklin Training Services (FTS) provides instruction on the use of computer software for the employees of its corporate clients. It offers courses in the clients’ offices on the clients’ equipment. The only major expense FTS incurs is instructor salaries; it pays instructors $6,000 per course taught. FTS recently agreed to offer a course of instruction to the employees of Novak Incorporated at a price of $700 per student. Novak estimated that 20 students would attend the course. Base your answers on the preceding information. Required Relative to the number of students in a single course, is the cost of instruction a fixed or a variable cost? Determine the profit, assuming that 20 students attend the course. Determine the profit, assuming a 10 percent increase in enrollment (i.e., enrollment increases to 22 students). What is the percentage change in…

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