The four agree to a formula under which they will price the shares pursuant to granting each other the right to buy the shares of an owner who decides to sell. This is an example of what kind of restriction on transfer? Multiple Choice Provision disqualifying purchasers Put agreement Consent constraint Buy-and-sell Option agreement
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- How is an offer accepted? Describe the rules for the manner of acceptance and its communiArthur recently selected a broker to sell his house. Arthur and the broker are now in the process of finalizing the listing agreement. How should Arthur determine how much he should pay the broker as a commission? O The commission must be set to 6% of the sales price as dictated by FREC O The commission must be between 3-6% of the sales price as per NAR guidelines. ○ Arthur must negotiate with the broker until both parties agree to a commission. O A listing broker is not entitled to a commission.Bill offers to sell his car to Tom for $9,000. Tom replies, “Your price is too high! I will offer to buy your car for $8,000.” Tom’s response is: A) a counteroffer B) a rejection of the original offer only C) the creation of a new offer only D) a refusal to deal.
- Locate the doctrine in the UCC and describe “accommodation" in your own words. Be sure to provide a definition that is applicable in relation to the sale of goods and contracts. Now, apply the doctrine to the hypothetical below: You own Bo’s Garden Supplies and have used Mick’s Manure as a supplier for several years. Exchanging email, you and Mick agree that he will ship the usual 50 bags of manure around April 1st. On March 30th, he emails you to say that there was a shortage of full-size manure bags so 100 bags, totaling the same amount of manure, are on their way and will be there as of April. Is Mick in breach of contract? Why or why not? Please explain. What are your legal options?Number 16: Which of the following is true about implied authority?Question 27 Hanna has an existing claim for $500 against Archie. Hanna and Archie agree that she will accept $250 and her bathroom sinks to be installed by Archie. Archie bought the sinks and will be installing them within the week. If either of the parties decide not to abide by the new agreement, they can assert the following: O specific performance O accord and satisfaction O waiver rescission
- The four agree to a formula under which they will price the shares pursuant to granting each other the right to buy the shares of an owner who decides to sell. This is an example of what kind of restriction on transfer? Multiple Choice Provision disqualifying purchasers Put agreement Consent constraint Buy-and-sell Option agreementWhich one of the following is NOT a correct pairing of a trust provision with its characteristics? A) Spendthrift provision: a clause in a trust that prevents a beneficiary from withdrawing more than the greater of $5,000 or 5% of the corpus.quizlet B) Crummey provision: a trust clause that provides the beneficiary with a limited duration right to demand payment of contributions to a trust each year up to the annual gift tax exclusion from the trustee. C) Discretionary provision: a trust clause that allows the trustee to use his or her sole judgment in determining how much of the trust income and principal will be paid to or on behalf of a beneficiary. ?Able does not ever want Baker's shares to be transferred to Baker's brother, who has been convicted of criminal fraud and embezzlement on several occasions and who is currently serving time in a federal prison for one of those convictions. Which of the following types of restrictions on the transfer of Baker's shares might Able insist to accomplish this, even if Carter and Dennis don't share Able's concerns? Multiple Choice A put agreement Option agreement Provision disqualifying purchasers Buy-and-sell agreement Right of first refusal