A broker who is acting as agent in the offering of property, may, without further authority from his principal:
A: Modify the seller's terms so they comply with the offer;
B: Cancel the sale if the buyer refuses to close within the agreed-upon terms;
C: Enter into a contract to convey the property to the buyer;
D: Accept the signature of the buyer on an offer to purchase which would be binding on the parties if the seller accepts.
Answer: D: Accept the signature of the buyer on an offer to purchase which would be binding on the parties if the seller accepts.
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If an owner refuses to sell property to a government entity so that it can expand a park, the entity may force the owner to sell through its right of eminent domain.
a. true b. false
Solar Confectionary develops a new candy bar and plans to sell each bar for $1
Solar predicts that 1 million candy bars will be sold in the first year if the new candy bar is produced and sold, and includes $1 million of incremental revenues in its capital budgeting analysis. A senior executive in the company believes that 1 million candy bars will be sold, but lowers the estimate of incremental revenue to $700,000. What would explain this change? A) a higher selling price for the new candy bars B) cannibalization of 300,000 of Solar Confectionary's other candy bars C) a lower discount rate D) excessive marketing costs to sell the 1 million candy bars