Auto sales for breaching its contract with michael

Assignment Help Business Economics
Reference no: EM131174596

Alexander has been accepted as a freshman at a college two hundred miles from his home for the fall semester. Alexander's wealthy uncle, Michael, decides to give Alexander a car for Christmas. In November, Michael makes a contract with Jackson Auto Sales to purchase a new car for $18,000 to be delivered to Alexander just before the Christmas holidays, in mid-December. The title to the car is to be in Alexander's name. Michael pays the full purchase price, calls Alexander and tells him about the gift, and takes off for a six-month vacation in Europe. Is Alexander an intended third party beneficiary of the contract between Michael and Jackson Auto Sales? Suppose that Jackson Auto Sales never delivers the car to Alexander. Does Alexander have the right to sue Jackson Auto Sales for breaching its contract with Michael?

Reference no: EM131174596

Questions Cloud

Government intervention regarding consumption of tobacco : Discuss your view on government intervention regarding consumption of tobacco; i.e., explain your reasons to be in favor or against the policy that attempts to reduce individuals’ smoking habit. Is your view on this issue closer to the organic view o..
Each producing an identical good simultaneously : Consider two firms, 1 and 2, each producing an identical good simultaneously. This good has market demand given by the inverse demand function , where is price, and is market quantity. represents the amount produced by firm . Suppose production cost ..
Challenges clare faces in addressing welfare reform : What do you think are the most significant challenges Clare faces in addressing welfare reform? What is your assessment of the most important stakeholders and what are their incentives to take action? What general quasi-experimental evaluation design..
Explain what it means by social othering : In a couple of paragraphs, explain what it means by social othering, and then explain this idea using an example of your own from the contemporary US. This example should not be hypothetical. Think about actions or behaviors that you have experienced..
Auto sales for breaching its contract with michael : Alexander has been accepted as a freshman at a college two hundred miles from his home for the fall semester. Alexander's wealthy uncle, Michael, decides to give Alexander a car for Christmas. Suppose that Jackson Auto Sales never delivers the car to..
Horizontal axis and vertical axis : Consider two goods: apples and oranges. Draw an indifference curve diagram that shows apples on the horizontal axis and oranges on the vertical axis, an individual’s budget constraint, and the bundle (5 apples, 5 oranges) being the optimal consumptio..
Specialized production points to reflect new output levels : The nations of Utopia and Paradise both produce popcorn and cola. They currently do not trade. Below are the Production Possibilities Frontiers for both countries, Utopia and Paradise both decide to specialize in one product and trade for the other. ..
Marginal principle-let bygones be bygones : In the section of the text headed “Marginal Principle: Let Bygones Be Bygones,” it is emphasized that a firm, in setting output and price according to MR = MC, will disregard fixed cost.
Allocation of land in economy to its most productive uses : Why is rent not needed to make land available, but very useful in guiding the allocation of land in the economy to its most productive uses?

Reviews

Write a Review

Business Economics Questions & Answers

  Decrease in investment that occurred as result of banks

The decrease in investment that occurred as a result of banks being unwilling to lend to businesses after the collapse of the housing bubble caused: Because local banks earn fees for each loan, their role to:

  Sales revenue during an economic downturn

How can price and income elasticity measures be used by businesses to help maximize their sales revenue during an economic downturn?

  Provide reasons to explain what government would have to do

Provide reasons to explain what government would have to do to keep the unemployment rate at 3 percent."

  Illustrate what was impact on supply and demand of labour

Illustrate what was impact on supply and demand of labour on one sector of labour market. Elucidate factors that affected labour demand and labour supply in chosen historical example.

  Government-imposed barrier to entry

What is meant by the term "government-imposed barrier to entry"? Why would a government be willing to impose barriers to entering an industry?

  What is the equation for intertemporal budget constraint

Abdi’s incomes in periods 1 and 2 are $200 and $100 respectively. His preferences for consumption in the two periods are perfect complement. That is, for each dollar he spends in one period, he wants to spend the same amount in other period. What is ..

  Risk neutral principal and risk averse agent

Moral Hazard. There is a risk neutral principal and a risk averse agent. The agent exerts effort a that results in output x = a + , where ∼ N(0; 1). Find the first best level of effort. Calculate the profit of the principal. Solve for the second-best..

  Which maximizes the sum of the profits of both firms

Illustrate what is the total number of wells which maximizes the sum of the profits of both firms.

  Suppose firm finds that marginal product of capital

Suppose a firm finds that the marginal product of capital is 60 and the marginal product of labor is 20. If the price of capital is $6 and the price of labor is $2.50, describe how the firm should adjust its mix of capital and labor? What will be the..

  Analyse the promise and challenges associated

Explain whether you believe this will happen. Analyse the promise and challenges associated with this supply source.

  Qassume that when an economy has a gdp of 500 consumption

q.assume that when an economy has a gdp of 500 consumption is 550. the mpc is .75. investment is 25. begin the problem

  Which raise the price of tobacco above equilibrium price

The Canadian government administers two programs that affect the market for cigarettes. Health Canada media campaigns and labeling requirements are aimed at making the public aware of the dangers of cigarette smoking. At the same time, Agriculture an..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd