Orin hires Pat, a real estate broker, to sell her oceanfront house. The house is destroyed in a hurricane before being sold. Pat is Orin’s agent: until Orin’s insurer pays Pat’s commission. until the destroyed house is sold. until the destroyed house is rebuilt and sold. no more.

Orin hires Pat, a real estate broker, to sell her oceanfront house. The house is destroyed in a hurricane before being sold. Pat is Orin’s agent: until Orin’s insurer pays Pat’s commission. until the destroyed house is sold. until the destroyed house is rebuilt and sold. no more.

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

See similar textbooks

Similar questions

diculator A prospective insured completes an application for health insurance, the producer Which of the following requirements still needs to be met to make this a valid cont O A. Offer OB. O C. OD. Legal purpose Acceptance Consideration Reco
QuestionsT/F: Each contract should cover a singular promise and if multiple promises are involved, multiple contracts should be createdT/F: Boris sky dives out of a plane and gets hung up in a tree, hopelessly suspended and swinging precariously in his parachute from the branches of the tree. Natasha sees that be is in trouble and comes to his rescue. Once Boris is safely on the ground, he gratefully promises to give Natasha half of his life savings account. When he changes his mind, Natasha will probably be unsuccessful in enforcing his promiseT/F: Most oral agreements will be enforceable as contracts by courtsT/F: An option contract has to do with a contract that gives one of the parties a choice of consideration to acceptT/F: Duress must be based on a physical threat and not an economic oneT/F: An option contract refers to the choices that one has when entering into a contractT/F: Larry has had a few beers and is starting to get a bit drunk. He isn't acting strange and…
Harry, Bill and Martha are the executive directors of Xilang Pty Ltd. Harry runs day to day business of the company and Bill is in charge of the company marketing activities. Martha relies on her husband, Harry, to give her information. She rarely attends directors' meeting and does not bother to read weekly reports about the company financial position. What directors' duty has Martha breached in this situation? Select one: a. Duty of care and diligence. b. Duty to avoid improper use of information. c. Duty to prevent insolvent trading. d. Duty to disclose material personal benefit.
Madelle sought Sales Associate Sally's help in the search of an affordable townhouse in her area. Sally agreed to show Madelle some properties once Madelle signed a buyer representation agreement. Madelle agreed but was surprised to see the name of Broker Sam on the contract and asked Sally why that was so. Decide which of the following BEST represents what Sally's response should be. That allows Sam to step in if anything happens to Sally. It's just a way of tracking the activity of sales associates who work within the brokerage. Q { Search Agency relationships are created on the broker level. Sally would be splitting her commission with Broker Sam. 19:13
Buyer Bert can't believe that Seller Sam has had a last-second change of heart about entering into an agreement to sell his home to Bert. Sam has offered to refund Bert's earnest money and even pay him something in acknowledgment of Bert's inconvenience and disappointment, but Bert's not having it. He wants Sam's house. Choose the remedy for breach of trust that Bert will most likely take. demand specific performance initiate rescission accept compensatory damages settle for liquidated damages
his question comprises several partial subquestions. Please do not forget to answer all of them. This is all the available information - no other information may be added. The company "Señorío de Begué", originally from the province of Jaén (Spain), is dedicated to the sale and distribution of olive oil. For the next year, it intends to export its products outside of Spain. Señorío de Begué (a fictitious company), has a high-quality product, very prestigious and well known in Spain, as well as a good structure of production and sale for national trade. Although sales continue to increase in Spain, they have decided to make the leap to the international market to continue this line of growth. The company needs someone to take charge of this important new phase for Señorío de Begué. DEVELOP 1. In the first place, you will have to carry out a study of the product and the sector in Spain, as well as its competition. 2. Choose 3 countries to export and analyze the…
Q1. To prevail in an action brought under common law, the plaintiff must show all of the following except: (in your response, explain the burdens of proof for a third-party plaintiff under common law). Q2. Kerry CPA is the auditor for Sammy Corp. During the audit, Kerry discovers a material misstatement in Sammy's financial statements. Sammy's management tells Kerry that if the misstatement is corrected or if Kerry issues an opinion that indicates there is a material misstatement, Sammy Corp. will likely have to declare bankruptcy and thousands of employees will lose their jobs. Which of the following statements is true if the misstatement is not corrected and Kerry issues an unqualified opinion on Sammy's financial statements? (in your response, identify the court case that makes Kerry liable to any person who suffered a loss as a result of the fraud).
4 see picture
Question 24:
Ned works for a ride share service. By contract with his boss, he must work at least 35 hours per week in the borough of Manhattan; can only give rides to people through the company app; must use the route set forth on the company GPS program; cannot work for another rideshare operator. He is paid on commission – 60% of fares. Can Ned be properly categorized as an independent contractor?
encourage a buyer to buy. Which one of the following statements is 20. An affiliate broker can legally offer an inducement, prize or gift to 12 d. TRUE: The cost of the prize does not exceed $1,000. The offer to purchase must be signed within 24 hours. The affiliate broker and broker must share in the cost of the prize. It is approved by the affiliate broker's principal broker. a. b. d. 21.An applicant for an affiliate broker's, broker's or time-share salesperson's license must apply for the license within respective license examination or be subject to reexamination. months of passing the a. b. C. d. 12 22. Which of the following statements is TRUE concerning internet advertising? It is illegal in Tennessee. The firm name and telephone number are required to be shown on the first page. Affiliate brokers are allowed to advertise on the internet without their principal broker's, or firm's name. The firm name and telephone number must be on each page. a. b. С. d. 346
Sally's apartment is burglarized while she is on vacation, and a few pieces of jewelry she left at home are stolen. She files an insurance claim, stating that all of her jewelry was taken. Which of the following best describes the act that Sally is engaging in?