The producer of a medicinal 'smoke ball' advertised in the print media and social media that anyone who bought and used the ball in proper way and still contracted influenza would be paid a 500 OMR reward. Miss Ayesha used the ball as per directions and did catch influenza. When she approached the producer, they claimed that there was no enforceable contract because Miss Ayesha had never notified the company that she accepted its offer. Questions a. Can Miss Ayesha go to a court of law and claim reward from the company? Why or why not? b. Is the contract in this case enforceable by law or not?

The producer of a medicinal 'smoke ball' advertised in the print media and social media that anyone who bought and used the ball in proper way and still contracted influenza would be paid a 500 OMR reward. Miss Ayesha used the ball as per directions and did catch influenza. When she approached the producer, they claimed that there was no enforceable contract because Miss Ayesha had never notified the company that she accepted its offer. Questions a. Can Miss Ayesha go to a court of law and claim reward from the company? Why or why not? b. Is the contract in this case enforceable by law or not?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Consider each of the following examples and state whether the contract is valid, void or voidable andbriefly motivate your answer: 1. Hidipo concludes a contract with Sara in terms of which he sells his farm to Sara. While they werenegotiating the contract Hidipo declared that there were 300 000 olive trees planted on the farmwell knowing that there were only 50 000 trees
Alexia Jones is a worker at a local 24-hour pharmacy. Alexia works the night shift and is the only worker. Because management is cost-conscious and business is slow at night, Alexia has been given the responsibility to do the accounting from the previous day. Alexia has two children, and her husband does not work. Alexia has strong pressure to provide well for her family. Is the pharmacy at risk for fraud? Why or why not?
Sharon is an intern with a local CPA firm. Prior to returning to school, her supervisor goes on sick leave and asks her to do some complicated reconciliation work for him. She is given what seems to her to be an unrealistic deadline. Sharon looks at the workpapers and supporting documentation and realizes she doesn’t have the skills to complete the work without help. She contacts her supervisor who tells her to talk to Holly, a good friend of Sharon and former intern at the firm, for help. Holly returned to school one semester ago. What ethical considerations do you have in this matter? What would you do and why?
Amy Klein was seriously injured when her motorcycle was struck by a vehicle driven by Christopher Bowling.Amy Clne wrote to Statewide Claims Services, the administrator for Bowling's insurer asking for "all the insurance money that Mr.Bowling had under his insurance policy". In exchange, Klein agreed to sign a limited release that could not contain any language saying that she would have to pay Mr.Bowling's by or his insurance company any of their incurred costs". Statewide sent a check and a demand that Klein "place money in an escrow account in regards to any and all Leon's pending." Did Statewide and Klein have an enforceable agreement?
1. Advise Mr Alex whether he has any action against Produksi Jitu Sdn Bhd. 2. Identify a remedy that will be available to Mr Alex.
Holly Hunter had been working as a nurse in Long Tong Hospital in Hong Kong when the outbreak of SARS (Severe Acute Respiratory Syndrome) became a real threat to her in her workplace. As a safety precaution, Holly decided to return home to South Africa. She shipped a container of various fashion items (clothes, handbags, and accessories) from Hong Kong to South Africa and on her return, set up shop in the Red Shed market at the Victoria and Alfred Waterfront in Cape Town. After three months of trading, it appeared to Holly that her business was performing well. However, when she read the financial statements, there were a number of things that Holly did not understand. She decided to have lunch with you, her accountant, in order to discuss the questions and concerns that she had about her business. Below is an extract of the conversation that Holly Hunter had with you. The extract out- lines her questions and concerns: 1. "I know that profit and the statement of financial position are…
Marsha’s Pet Store employs six employees. Their duties are to sell pets, replenish the stock, keep the pets’ cages clean, feed the pets, and maintain good records. Marsha pays a fixed hourly rate and a commission on sales of pets. Lately, Marsha has been finding that the records have not been well maintained and the stock has not been replenished. However, pet sales are good and the pets’ cages are clean. Is Marsha’s current reward structure motivating the employees to pay more attention to the pets than to their other duties? multiple choice True False
Jake’s grandmother paid for their lunch with a credit card. The waitperson brought him back the card, and he signed the receipt. Several charges appeared on his grandmother’s credit card bill that he had not made a month later. Identify the victim and the violator. What term describes what the waitperson did? What should Jake advise his grandmother? Please answer with more than 200 words