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Business, 06.04.2021 02:00 perlamaria01
Dora Dolby was employed as an agent for Ace Used Car Company to purchase newer-model used cars. Her authority was limited by a $3,000 maximum price for any car. A wholesaler showed her a 1938 classic car that was selling for $5,000. The wholesaler knew that Ace only dealt in newer-model cars and that Dolby had never paid more than $3,000 for any car. Dolby bought the car for Ace, convinced that it was worth at least $7,000. When she reported this to Ted Williams, Ace’s owner, Williams was furious but nevertheless authorized processing of the automobile for resale. Williams also began pricing the car with antique car dealers who indicated that the current value of the car was $4,800. Williams called the wholesaler to state that Dolby had exceeded her authority, that he was returning the car, and that he was demanding repayment of the purchase price. What is the wholesaler’s best defense in the event of a lawsuit?
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Answers: 1
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Business, 22.06.2019 08:30
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Last year, johnson mills had annual revenue of $37,800, cost of goods sold of $23,200, and administrative expenses of $6,300. the firm paid $700 in dividends and had a tax rate of 35 percent. the firm added $2,810 to retained earnings. the firm had no long-term debt. what was the depreciation expense?
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Dora Dolby was employed as an agent for Ace Used Car Company to purchase newer-model used cars. Her...
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