Hansel has been driving her Jaguar X-Type luxury car for many years and has now decided to sell her Jaguar and buy a new one. She puts an advertisement in the newspaper saying “Great condition X-Type Jaguar for sale - £3,000, Contact Number 012100000“. Wolfgang texts her and says that he is willing to buy the car from her for £3,000 and “unless he hears back from her by Saturday he will assume that the car is his”. Hansel is busy and does not respond. On Thursday, Rasputin reads the newspaper and calls Hansel. He offers to buy the car for £2,750. Hansel accepts the offer and sells the car to him. On Saturday Wolfgang finds out that Hansel has sold the car and he becomes furious as he feels he had entered into a contract with Hansel a) Discuss if there has been a contractual relationship between Hansel & Wolfgang  b) Discuss the validity of the contract between Hansel & Rasputin

Use the following information. When "trading up," it is preferable to sell your old house before buying your new house because that allows you to use the proceeds from selling your old house to buy your new house. When circumstances do not allow this, the homeowner can take out a bridge loan.Tina and Mike have sold their house, but they will not get the proceeds from the sale for an estimated 3 months. The owner of the house they want to buy will not hold the house that long. Tina and Mike have two choices: let their dream house go or take out a bridge loan. The bridge loan would be for $88,000, at 8.5% simple interest, due in 90 days. (Round your answers to the nearest cent.) (a) How big of a check would they have to write in 90 days?$ (b) How much interest would they pay for this loan?

Jessica is a professional consultant. She agrees to consulting services for Joe for $2,000. After she finishes, Joe does not have cash to pay Jessica, but he has an antique, collectible baseball card with a fair market value of $2,000 that he gives her to satisfy the payment. The baseball card cost Joe $500. How much should Jessica include in her gross income?

D Dentist leases an office from LLandlord. D has hung several paintings on the walls and has strongly bolted and attached his dental equipment to the walls and plumbing. His lease is expiring, and D wants to take all of this property to his new office. L claims he cannot do so because the paintings and equipment are now hers. Who wins? Why? Be sure to explain your answer While in a restaurant you find a diamond ring under your chair. Is it yours now? Explain your answer.

Anne Murray is planning to buy a rental property, inaddition to the family home she and Henry own. She isconsidering a property in Bristol costing £210,000. Shehas savings of £85,000 which she will use as a deposit butwill need to borrow the remaining amount for thepurchase. She has had a fixed-rate mortgage agreed inprinciple by Royal East Bank, for which she will becharged 4.75% interest.She wants to know what income she might expect to geton her investment. Local agents have estimated that themonthly rent may be £1,450 per month, with agent's feesfor managing the property being charged at 5% of therent.Provide Anne with an estimate of the relevant costs ofrenting the property and the net rental income that shemight expect to get. Anne has estimates for some of theother costs she will incur as follows: Repairs and maintenance per year£700Property insurance per year£395Mortgage arrangement fee£1950Surveyors' fees£350Solicitors' conveyancing fees£1050Gardener£870 Explain to Anne what…

Vera owns a small shop selling stationeries in Ma On Shan. She wants to retire. She placed a notice in front of her shop which reads: “Shop for sale, HK$3,000,000 for the shop premise and HK$25,000 for all the stationeries in the shop. Can be purchased separately." Iris saw the notice in front of the shop. She has a stationeries shop in Shatin and wanted to buy all the stationeries in Vera's shop. She approached Vera and gave her two cheques of HK$3 million and HKS25,000 informing her that she intended to buy the shop and all stationeries. They agreed to sign two separate contracts for the two sale transactions. Explain to Iris whether the two contracts are governed by the Sale of Goods Ordinance.

Jack asked Jill to marry him, and she has accepted under one condition: jack must buy her a new $300,000 rolls Royce phantom. Jack currently has $25,900 that he may invest. He had found a mutual fund with a expected annual return of 6.5 percent in which he will place the money. How long will it take jack to win jills hand in marriage? Ignore taxes and inflation The number of years it will take for jack to win jills hand in marriage is Round to one decimal place.

Jagdeep sold his Indian restaurant “Maya no Dhaba” to Jasleen for the amount of $450,000. On top of that, Jasleen paid another $50,000 for Jagdeep to agreed that he won’t open a new Indian restaurant in the radius of 10 Kms for the next five years.Discuss whether the $50,000 payment is considered as Ordinary Income?

Ravi is a software developer who has lived in Wellington for 12 years and has a partner there. He and his partner own the apartment they live in and another similar apartment in a nearby building. Ravi accepts a 2-year contract in Dublin. For the first year of his contract, Ravi returns to Wellington every few months to see his partner, after which she decides to take a year of unpaid leave and join him in Ireland for the remainder of his contract. At that time, they sell the apartment they had lived in, given that they will be down to one income and wish to travel a little in Europe in the second year of Ravi’s contract. They sold the apartment they lived in rather than the investment property because it was not subject to a lease and so was easier to sell promptly. The couple intend to return to Wellington after Ravi’s contract; they have many friends there and Ravi’s partner’s family live there. In addition to the investment property he owns with his partner, Ravi has a sizeable New…

Jack asked Jill to marry​ him, and she has accepted under one​ condition: Jack must buy her a new ​$340,000 ​Rolls-Royce Phantom. Jack currently has ​$57,940 that he may invest. He has found a mutual fund with an expected annual return of 4.5 percent in which he will place the money. How long will it take Jack to win​ Jill's hand in​ marriage? Ignore taxes and inflation.