Silvermark Enterprises The following information is from Silvermark's 2012 accounting records. Gross purchases $201,000 Transportation-in 8,000 Inventory, January 1, 2012 26,500 Inventory, December 31, 2012 28,100 Purchase returns and allowances 9,000 Refer to the information provided for Silvermark Enterprises. How much will Silvermark report as net purchases for 2012?

Mike is given a bottle of wine as a gift. Josh, a neighbour, sees it and recognizes it as a very rare bottle. Knowing that Mike doesn't drink, Josh offers him $300 for it, which he believes to be a fair price. Mike happily agrees. Later, when Josh is looking up the price of the bottle on eBay, he realizes that it is not a valuable bottle of wine at all. He had confused it with another vintage. Josh, who is taking a law class, wonders whether or not he could have the contract set aside. Which of the following statements is true?

A) It is unlikely to be set aside unless Josh could show that it would be unfair or unjust to enforce it. B) It will automatically be set aside on the basis of the doctrine of mistake. C) It will only be set aside if Josh's mistake rendered the contract illegal. D) A contract can never be set aside where a mistake has been made. E) The contract will only be set aside if Josh's mistake was the result of willful blindness.

____________________ has a specific termination date and no advance notice is required. The death of a landlord or tenant does not terminate and neither does the sale of the property.

Fill in the blank(s) with the appropriate word(s).