subject
Business, 20.07.2020 01:01 kbkbkbkb7611

Nelson died in 1996 and Newman and Franz were appointed co-personal representatives of her estate. Newman and Franz hired McKenzie-Larson to appraise the estate's personal property in preparation for an estate sale. McKenzie-Larson told them that she did not appraise fine art, and that if she saw any, they would need to hire an additional appraiser. McKenzie-Larson did not report finding any fine art, and relying on her silence and her appraisal, Newman and Franz priced the personal property and held an estate sale. Rice responded to the newspaper advertisement for the sale and attended it. At the sale, Rice bought two oil paintings for $60. Rice had bought and sold some art, but he was no expert. He had never made more than $55 on any single piece and he had bought many that turned out to be frauds, forgeries, or the work of lesser artists. He assumed that the paintings at the estate sale were not originals, given their price and the fact that the sale was being managed by professionals. Subsequently, Rice learned that the paintings were original works of Martin Johnson Heade. Rice sold the paintings on consignment at Christie's in New York for $1,072,000. After subtracting the buyer's premium and the commission, Rice realized $911,780 from the sale. Newman and Franz sued Rice, claiming that the sale contract should be rescinded on the basis of mistake. Will Newman and Franz win

ansver
Answers: 2

Another question on Business

question
Business, 22.06.2019 05:50
Acompany that makes shopping carts for supermarkets and other stores recently purchased some new equipment that reduces the labor content of the jobs needed to produce the shopping carts. prior to buying the new equipment, the company used 6 workers, who produced an average of 79 carts per hour. workers receive $16 per hour, and machine coast was $49 per hour. with the new equipment, it was possible to transfer one of the workers to another department, and equipment cost increased by $11 per hour while output increased by four carts per hour. a) compute the multifactor productivity (mfp) (labor plus equipment) under the prior to buying the new equipment. the mfp (carts/$) = (round to 4 decimal places). b) compute the productivity changes between the prior to and after buying the new equipment. the productivity growth = % (round to 2 decimal places)
Answers: 3
question
Business, 22.06.2019 11:10
Use the following account numbers and corresponding account titles to answer the following question. account no. account title (1) cash (2) merchandise inventory (3) cost of goods sold (4) transportation-out (5) dividends (6) common stock (7) selling expense (8) loss on the sale of land (9) sales which accounts would appear on the income statement?
Answers: 3
question
Business, 22.06.2019 12:50
Kendrick is leaving his current position at a company, and charlize is taking over. kendrick set up his powerpoint for easy access for himself. charlize needs to work in the program that is easy for her to use. charlize should reset advanced options
Answers: 3
question
Business, 22.06.2019 13:30
The purpose of safety stock is to: a. eliminate the possibility of a stockout. b. control the likelihood of a stockout due to variable demand and/or lead time. c. eliminate the likelihood of a stockout due to erroneous inventory tally. d. protect the firm from a sudden decrease in demand. e. replace failed units with good ones.
Answers: 1
You know the right answer?
Nelson died in 1996 and Newman and Franz were appointed co-personal representatives of her estate. N...
Questions
question
Mathematics, 06.11.2020 17:10
question
Mathematics, 06.11.2020 17:10
question
Business, 06.11.2020 17:10
Questions on the website: 13722367