Owners of the two companies, namely LLC and BCM agreed to go into wood-pallet enterprises along with Ark-Mo, by allocating it 30 percent ownership interests in their future products. The owner of BCM, person L formed a new company BCR, but allocated only 5 &#37; to Ark-Mo on which G, owner of LLC objected. However, the person L promised in a telephone conversation that Ark-Mo will receive 30 percent interest in future projects. Ark-Mo did not receive any interest and therefore, he filed a case for a breach of contract. To find: The consideration to support the telephone deal.

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Answer 1

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Chapter 12, Problem 7BCP

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Case summary:Owners of the two companies, namely LLC and BCM agreed to go into wood-pallet enterprises along with Ark-Mo, by allocating it 30 percent ownership interests in their future products. The owner of BCM, person L formed a new company BCR, but allocated only 5 % to Ark-Mo on which G, owner of LLC objected. However, the person L promised in a telephone conversation that Ark-Mo will receive 30 percent interest in future projects. Ark-Mo did not receive any interest and therefore, he filed a case for a breach of contract.

To find: The consideration to support the telephone deal.

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Anderson Company's break-even point in units is 2,150. The sales price per unit is $10 and the variable cost per unit is $5. If the company sells 5,200 units, what will its net income be? a. $25,500 b. $15,250 c. $11,700 d. $19,750 e. $26,000

Answer 2

Question

Chapter 12, Problem 7BCP

Summary Introduction

Case summary:Owners of the two companies, namely LLC and BCM agreed to go into wood-pallet enterprises along with Ark-Mo, by allocating it 30 percent ownership interests in their future products. The owner of BCM, person L formed a new company BCR, but allocated only 5 % to Ark-Mo on which G, owner of LLC objected. However, the person L promised in a telephone conversation that Ark-Mo will receive 30 percent interest in future projects. Ark-Mo did not receive any interest and therefore, he filed a case for a breach of contract.

To find: The consideration to support the telephone deal.

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Chapter 12, Problem 7BCP

Summary Introduction

Case summary:Owners of the two companies, namely LLC and BCM agreed to go into wood-pallet enterprises along with Ark-Mo, by allocating it 30 percent ownership interests in their future products. The owner of BCM, person L formed a new company BCR, but allocated only 5 % to Ark-Mo on which G, owner of LLC objected. However, the person L promised in a telephone conversation that Ark-Mo will receive 30 percent interest in future projects. Ark-Mo did not receive any interest and therefore, he filed a case for a breach of contract.

To find: The consideration to support the telephone deal.

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Answer 4

Question

Chapter 12, Problem 7BCP

Summary Introduction

Case summary:Owners of the two companies, namely LLC and BCM agreed to go into wood-pallet enterprises along with Ark-Mo, by allocating it 30 percent ownership interests in their future products. The owner of BCM, person L formed a new company BCR, but allocated only 5 % to Ark-Mo on which G, owner of LLC objected. However, the person L promised in a telephone conversation that Ark-Mo will receive 30 percent interest in future projects. Ark-Mo did not receive any interest and therefore, he filed a case for a breach of contract.

To find: The consideration to support the telephone deal.

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Answer 5

Chapter 12, Problem 7BCP

Summary Introduction

Case summary:Owners of the two companies, namely LLC and BCM agreed to go into wood-pallet enterprises along with Ark-Mo, by allocating it 30 percent ownership interests in their future products. The owner of BCM, person L formed a new company BCR, but allocated only 5 % to Ark-Mo on which G, owner of LLC objected. However, the person L promised in a telephone conversation that Ark-Mo will receive 30 percent interest in future projects. Ark-Mo did not receive any interest and therefore, he filed a case for a breach of contract.

To find: The consideration to support the telephone deal.

Answer 6

Chapter 12, Problem 7BCP

Summary Introduction

Case summary:Owners of the two companies, namely LLC and BCM agreed to go into wood-pallet enterprises along with Ark-Mo, by allocating it 30 percent ownership interests in their future products. The owner of BCM, person L formed a new company BCR, but allocated only 5 % to Ark-Mo on which G, owner of LLC objected. However, the person L promised in a telephone conversation that Ark-Mo will receive 30 percent interest in future projects. Ark-Mo did not receive any interest and therefore, he filed a case for a breach of contract.

To find: The consideration to support the telephone deal.

Answer 7

Chapter 12, Problem 7BCP

Summary Introduction

Case summary:Owners of the two companies, namely LLC and BCM agreed to go into wood-pallet enterprises along with Ark-Mo, by allocating it 30 percent ownership interests in their future products. The owner of BCM, person L formed a new company BCR, but allocated only 5 % to Ark-Mo on which G, owner of LLC objected. However, the person L promised in a telephone conversation that Ark-Mo will receive 30 percent interest in future projects. Ark-Mo did not receive any interest and therefore, he filed a case for a breach of contract.

To find: The consideration to support the telephone deal.

Answer 8

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Ch. 12 - Prob. 1RE Ch. 12 - Prob. 2RE Ch. 12 - Prob. 3RE Ch. 12 - Prob. 1IS Ch. 12 - Prob. 2IS Ch. 12 - Prob. 1BS Ch. 12 - Prob. 2BS Ch. 12 - Prob. 3BCP Ch. 12 - Prob. 4BCP Ch. 12 - Prob. 5BCP

Solution Summary: The author explains that in contract law, consideration is an essential requirement for the formation of a contract.

Chapter 12 Solutions