QuickHelper

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About QuickHelper

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Elementary,High School,College,University,PHD

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Accounting,Applied Sciences See all
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Teaching Since: May 2017
Last Sign in: 362 Weeks Ago, 3 Days Ago
Questions Answered: 20103
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Education

  • MBA, PHD
    Phoniex
    Jul-2007 - Jun-2012

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  • Corportae Manager
    ChevronTexaco Corporation
    Feb-2009 - Nov-2016

Category > Management Posted 04 Oct 2017 My Price 8.00

Stein, a mechanic, and Beal, a life insurance agent, entered into a written contract for the sale of Stein's tractor to Beal for $6800 cash.

Stein, a mechanic, and Beal, a life insurance agent, entered into a written contract for the sale of Stein's tractor to Beal for $6800 cash. It was agreed that Stein would tune the motor on the tractor. Stein fulfilled this obligation and on the night of July 1 telephoned Beal that the tractor was ready to be picked up upon Beal's making payment. Beal responded, “I'll be there in the morning with the money.” On the next morning, however, Beal was approached by an insurance prospect and decided to get the tractor at a later date. On the night of July 2, the tractor was destroyed by fire of unknown origin. Neither Stein nor Beal had any fire insurance. Who must bear the loss?

Answer will be following format:-
A: answer the question asked
I: Issue: identify the legal issue presented in the problem
LC: State the legal concept involved in the legal issue. Include the elements of the legal concept
D: Short discussion to support the answer with combining the elements of the legal concept with the operative facts in the problem.
(It is Business Law subject which class required for accounting students.) Thank you

There is no business law in the options.

 

Answers

QuickHelper
(10)
Status NEW Posted 04 Oct 2017 06:10 PM My Price 8.00

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