Jeremy has a dispute with a local tree removal company. After a big storm had come through the area, Jeremy had to hire the company to remove a big tree. The two parties had agreed to the price of $1,500. However, the company never finished the job. The company left when the tree was only half removed. Jeremy and his dad finished the rest of the removal two weeks later. Jeremy does not think he owes the tree removal company anything. The tree removal company however wants to be paid. Jeremy offers them $500 in settlement of their dispute. The tree company accepts. This agreement can best be described under contract law as .

Solomon chemical company makes three products, b7, k6, and x9, which are joint products from the same materials. in a standard batch of 320,000 pounds of raw materials, the company generates 70,000 pounds of b7, 150,000 pounds of k6, and 100,000 pounds of x9. a standard batch costs $3,840,000 to produce. the sales prices per pound are $10, $14, and $20 for b7, k6, and x9, respectively. (a) allocate the joint product cost among the three final products using weight as the allocation base. (b) allocate the joint product cost among the three final products using market value as the allocation base. (c) allocate the joint product cost among the three final products using weight as the allocation base.