Can jo assign right to buy mary business to peter

Assignment Help Finance Basics

Reference no: EM131996192

Question: Mary and Jo enter a contract in which Jo agrees to buy Mary's small consignment business for $300,000.00. Jo goes home and realizes the stock market is reducing his financial position and perhaps this is not a good time to by another business. Jo has lunch with Peter and tells him the situation. Peter says he would love to buy Mary's business.

Can Jo assign his right to buy Mary's business to Peter? Why or why not?

If he can't, how could Jo be fully discharged of any duties under the original contract he signed with Mary?

What do we call this type of discharge?

Reference no: EM131996192

Questions Cloud

What is the bond current market price in given case : Martinez Motors bonds have 11 years remaining to maturity. Interest is paid annually, they have a $1,000 par value; the coupon interest rate is 7 percent.

Rank the from highest to lowest present value : Assuming typical discount rates of less than 30 percent, rank the following from highest to lowest present value, and then briefly explain each one.

Necessary to neutralize the acetic acid prepared : Calculate the volume in mL of the 1.00M NaOH solution would be necessary to neutralize the acetic acid prepared in part b.

Solubility of ammonia gas : What is the solubility of ammonia gas if its partial pressure is increased to 1425 mmHg?

Can jo assign right to buy mary business to peter : Mary and Jo enter a contract in which Jo agrees to buy Mary's small consignment business for $300,000.00. Jo goes home and realizes the stock market is reducing

What is the current value of the stock to you : Martin's Inc. has paid an annual dividend of $2.50 a share. The dividends are expected to grow at 10% for the next five years.

Average payment periods are equivalent to the industry : The average collection and the average payment periods are equivalent to the industry.

Influence the results of the calculated gmw : How would each of the following mistakes influence the results of the calculated GMW?

What is present value of the annuity : A 20-year annuity pays $1,750 per month, and payments are made at the end of each month. what is the present value of the annuity?

User Account

All Pages