Ask Question
BusinessBusiness
13 August, 20:48

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.

+4
Answers (2)
  1. 13 August, 21:06
    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. 13 August, 21:11
    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 the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
The positively-sloped part of the long-run average total cost curve is due to which of the following? a) Diseconomies of scale b) Diminishing returns c) The firm being able to take advantage of large-scale production techniques as it expands its
Answers (1)
Who is harmed the MOST during periods of unexpected inflation? A) 1 B) 1 and 3 C) 1, 2, and 3 D) 2 and 4
Answers (2)
What factors affecting people's lives might contribute to the income gap?
Answers (1)
1 of 3) What makes up a "Ticker Symbol" in the United States? A. Between 1 and 5 Letters or Numbers B. The first 3 letters of a company's name C. Between 1 and 5 letters only D. Between 1 and 7 numbers only
Answers (1)
Brown Office Supplies recently reported $15,500 of sales, $8,250 of operating costs other than depreciation, and $1,750 of depreciation. It had $9,000 of bonds outstanding that carry a 7.
Answers (1)
New Questions in Business
In the circular flow model of the market system, households' major role is to Multiple Choice buy both products and resources. sell both products and resources. buy products and sell resources. sell products and buy resources.
Answers (1)
Lucia Ltd. reported net income of $135,000 for the year ended December 31, 2016. January 1 balances in accounts receivable and accounts payable were $29,000 and $26,000, respectively.
Answers (1)
Ten years ago, Jacobson Recovery purchased a wrecker for $285,000 to move disabled 18-wheelers. He anticipated a salvage value of $50,000 10 years after the initial purchase. During this time his average annual revenue totaled $52,000.
Answers (1)
Using what you have learned in your focus group, you begin your analysis of the buyer decision process. In the first stage of the process, you need to show consumers that their existing state does not equal their desired state.
Answers (1)
When demand curves intersect, the curve with the larger slope in absolute value (the steeper demand curve) is more elastic?
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?