Ask Question
BusinessBusiness
12 June, 18:12

Sharon has contracted with Craig to buy Craig's car. She has agreed to pay $5,000 in cash in exchange for the title and registration for the vehicle. Sharon and Craig agree to meet at 10 a. m. on Wednesday to exchange their consideration. Unfortunately, Craig dies Tuesday evening. a) the contract automatically terminates due to impossibility caused by craig's death. b) the contract automatically terminates due to impracticability caused by craig's death. c) the contract is still valid and craig's heirs must go through with it based on the agreed terms. d) the contract is still enforceable; however, craig's heirs may renegotiate the terms because they are now the owners of the car.

+1
Answers (2)
  1. 12 June, 18:41
    0
    Answer: C

    The contract is still valid and Craig's heirs must go through with it based on the agreed terms

    Explanation:

    Since the contract is not for a specific service to be rendered by the deceased, then the details of the contract still stands. In some cases, the contract specifies what happens if one of the parties dies. But if the contract is less specific, its privileges and obligations may pass to another party, and sometimes even descend to the deceased's heirs.
  2. 12 June, 21:02
    0
    c) the contract is still valid and craig's heirs must go through with it based on the agreed terms.

    Explanation:

    Craig died before he could execute the contract with Sharon to sell his car.

    The contract between Sharon and Craig is not one that is for unique personal services so the heirs can still execute the contract. So the deal will be conclude by his heirs.

    For unique personal services that can only be performed by Craig however the heirs would have not been bound to perform the contract as nobody but Craig would have been able to execute it.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Sharon has contracted with Craig to buy Craig's car. She has agreed to pay $5,000 in cash in exchange for the title and registration for ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
The long-run supply curve for a product is horizontal with ATC = 200. Market demand is defined as P = 1,000 - 4 Q. The market is competitive and is in long-run equilibrium with 50 firms in the industry.
Answers (1)
Alpha Corporation reported the following data for its most recent year: sales, $530,000; variable expenses, $280,000; and fixed expenses, $200,000. The company's degree of operating leverage is closest to:
Answers (1)
Which situation is an example of comparative advantage in an international market? Country A decides to grow extra potatoes so they have more to export, while Country B does not.
Answers (1)
Some company executives favor the idea of contract manufacturing using local players, whereas others feel a direct investment strategy would be better. What would most strengthen argument for direct investment?
Answers (1)
Evaluating the decision and the process used for marketing research occurs in which stage of the process? execute the marketing program take marketing actions examine the alternatives evaluate data collection methods present the findings
Answers (1)
New Questions in Business
Jim is a manager of a restaurant. He is very concerned with efficiency and goal accomplishment as well as very intent on making employees happy through lots of participation and open-mindedness.
Answers (1)
Reynolds Manufacturers Inc. has estimated total factory overhead costs of $90,900 and expected direct labor hours of 10,100 for the current fiscal year.
Answers (1)
The following information came from the income statement of the Wilkens Company at December 31, 2017: sales revenue $1,800,000; beginning inventory $160,000; ending inventory $240,000; and gross profit $600,000.
Answers (1)
MacKenzie Company sold $300 of merchandise to a customer who used a Regional Bank credit card. Regional Bank deducts a 1.5% service charge for sales on its credit cards and credits MacKenzie's account immediately when sales are made.
Answers (1)
Bill signs a check payable to the order of City Bank, filling in the blanks for the amount with the figures "$100" and "One thousand and 00/100dollars." This check is payable in the amount of a. $0. b. $100. c. $1,000. d. $1,100.
Answers (1)
Home » Business » Sharon has contracted with Craig to buy Craig's car. She has agreed to pay $5,000 in cash in exchange for the title and registration for the vehicle. Sharon and Craig agree to meet at 10 a. m. on Wednesday to exchange their consideration.
Sign Up Forgot Password?