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- Incorrect Question 7 After you finish speaking at a business law conference, an eager fan asks you how long is an offer considered open for acceptance by the offeree. Your pithy reply is which of the following? Unless the terms of the offer state otherwise, the offer is open for a reasonable amount of time. Indefinitely, until the offeror revokes or rescinds it. Only 10 days, no exceptions. 30 days unless the parties agree otherwise.Q7 what are the different way in which an offer terminatesC. Identify the Form of Business Organization being described. (a 1. Form of business organization with unlimited lives and the death or withdrawal of an owner does not affect its existence. 2. The establishment is generally an easy and inexpensive process. _3. The most important characteristic of this form of organization is always limited liability. 4. It involves a contractual agreement between all the partners that set the terms and conditions of their business relationship, including the distribution of ownership, responsibilities, and profits and losses. 5. This form of business organization generally enjoys fewer options to raise capital.
- Q.9. What would be an advantage of choosing a sole proprietorship over other legal structures of business? The sole proprietorship can live long after its founder moves on The sole proprietorship is protected from all liability The sole proprietorship pays no taxes 4. The sole proprietorship would be cheaper to set up Select one and explain?● ● In order to drum up business, Ms. Smith purchased seasons tickets for both the Senators and the Redblacks. Should Redblacks tickets be expensed? Yes or No Should Senators tickets be expensed? Yes or No ● The cost for the Senators tickets (2) for $1,500 each. Ms. Smith will take a client to every hockey game; she has not missed a game in over five years. The cost for the Redblacks tickets (4) for $350 each. The same goes for the Redblacks, she hasn't missed a game either and it's a family tradition for her, her spouse and their two nieces to attend the games together. Ms. Smith pays $75 a month for a storage locker that she has had for over 3 years. Everything in the storage locker was bequeathed to her from her great uncle. She has no use for the items, but she can't seem to let them go. Should storgae locker fee be claimed? If yes, how much Ms. Smith has a business bank account and the monthly banking fees associated with this account are $5 a month. ● Should banking fees be…Op7. Question 4. Assume you are the marketing consultant for an upscale food market that wants to focus its marketing efforts on attracting new customers. You have a choice of segmenting the market on either a demographic or a benefit basis. What is the difference between the two? Which would you recommend, and why? Type your answer............. Question 5. Differentiate between breadth and depth of a firm's product mix by choosing a familiar company and explaining how its products exemplify these two concepts. Type your answer................
- A contract creates Question 7Answer a. only rights and no obligations, b. rights in rem, c. rights in personam, d. only obligations and no rightsQ.3.1 You have been appointed as the legal advisor to a company, Xcite (Pty) Ltd. On your first day, the company receives a summons suing the CEO in his personal capacity for the utility bill of the company. He has signed no surety in respect of the account and the MOI is silent regarding the personal liability of any of the Directors in respect of the debts of the company. Provide the CEO with a legal opinion in which you discuss:• legal personality of juristic persons;• the consequences of Xcite (Pty) Ltd’s incorporation;• circumstances when the court will ignore juristic personality; and• circumstances when the directors of an incorporated company would ‘normally’ be liable. Q.3.2 Briefly explain the consequences of the letters ‘RF’ being placed after the company name “Xcite (Pty) Ltd”.Buckeye Department Stores, Inc., operates a chain of department stores in Ohio. The company's organization chart appears below. Operating data for 20x1 follow. Buckeye Department Stores Cleveland Division Columbus Divişion Downtown Individual Olentangy Store Scioto Store Store Stores BUCKEYE DEPARTMENT STORES, INC. Operating Data for 20x1 (in thousands) Columbus Division Scioto Store $2,500 Olentangy Store $5,000 Downtown Store $12,000 Cleveland Division (all stores) $ 22,000 Sales revenue Variable expenses: Cost of merchandise sold Sales personnel-salaries Sales commissions Utilities Other Fixed expenses: Depreciation-buildings Depreciation-furnishings Computing and billing Warehouse Insurance Property taxes 3,000 500 60 80 70 2,100 310 50 70 35 6,000 760 90 160 13,000 1,700 220 320 270 130 130 90 90 50 30 70 25 20 260 150 480 310 180 460 220 190 40 80 40 75 210 90 35 80 MacBook Pro %23 % 4 & * 5 6. 7 8. Y D F K C V L.