subject
Business, 18.10.2019 22:20 cofran

Raymond barrows owned a 17-acre parcel of undeveloped land in seaford, delaware. for most of his life, mr. barrows had been an astute and successful businessman, but by the time he was 85 years old, he had been diagnosed as "very senile and confused 90 percent of the time." glenn bowen offered to buy the land. barrows had no idea of its value, so bowen had it appraised by a friend, who said it was worth $50,000. bowen drew up a contract, which barrows signed. in the contract, barrows agreed to sell the land for $45,000, of which bowen would pay $100 at the time of closing; the remaining $44,900 was due whenever bowen developed the land and sold it. there was no time limit on bowen’s right to develop the land nor any interest due on the second payment. what is the best argument against enforcing this agreement?
(a) barrows is illiterate
(b) barrows is mentally incompetent
(c) barrows is financial unstable
(d) none of the above

ansver
Answers: 2

Another question on Business

question
Business, 22.06.2019 19:50
The common stock and debt of northern sludge are valued at $65 million and $35 million, respectively. investors currently require a return of 15.9% on the common stock and a return of 7.8% on the debt. if northern sludge issues an additional $14 million of common stock and uses this money to retire debt, what happens to the expected return on the stock? assume that the change in capital structure does not affect the interest rate on northern’s debt and that there are no taxes.
Answers: 2
question
Business, 23.06.2019 00:50
Hubert manages a grocery store in a country experiencing a high rate of inflation. to keep up with inflation, he spends a lot of time every day updating the prices, printing new price tags, and sending out newspaper inserts advertising the new prices. his employees regularly deal with customer annoyance over the frequent price changes. this is an example of the of inflation.
Answers: 2
question
Business, 23.06.2019 01:20
The cook corporation has two divisions--east and west. the divisions have the following revenues and expenses: east westsales $ 603,000 $ 506,000 variable costs 231,000 300,000 traceable fixed costs 151,500 192,000 allocated common corporate costs 128,600 156,000 net operating income (loss) $ 91,900 $ (142,000 )the management of cook is considering the elimination of the west division. if the west division were eliminated, its traceable fixed costs could be avoided. total common corporate costs would be unaffected by this decision. given these data, the elimination of the west division would result in an overall company net operating income (loss) of: multiple choice$91,900$(64,100)$(142,000)$(50,100)
Answers: 3
question
Business, 23.06.2019 03:50
What is inventory turnover? explain the effect of a high inventory turnover during the christmas shopping season.
Answers: 1
You know the right answer?
Raymond barrows owned a 17-acre parcel of undeveloped land in seaford, delaware. for most of his lif...
Questions
question
Social Studies, 27.06.2019 17:30
question
Mathematics, 27.06.2019 17:30