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Subject Topic: R5-consideration question (Topic Closed Topic Closed) Post ReplyPost New Topic
  
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amndchr2
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Posted: 04 Jan 2010 at 19:50 | IP Logged  

My exam is scheduled for January 23! I have almost all the chapters studied through once, working on the tax sections right now.
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cpa0123
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Posted: 05 Jan 2010 at 00:23 | IP Logged  

Good. I have mine on 6th Feb. Hope you do well. All the best!

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amndchr2
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Posted: 05 Jan 2010 at 11:38 | IP Logged  

Thanks you too!!
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Xalina
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Posted: 05 Jan 2010 at 13:09 | IP Logged  

n mine is on the 22nd Jan..(picture me frantically biting nails!!!)

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cpa0123
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Posted: 17 Jan 2010 at 14:29 | IP Logged  

Another question:

Bond & Spear orally agreed that Bond would buy a car from Spear for $475. Bond paid Spear a $100 deposit. The next day, Spear received a $575 offer, the car's FMV. He immediately notified Bond that he would not sell the car & returned the $100 deposit. If Bond sues Spears & Spears defends on the basis of Statute of Frauds, Bond will probably:

a. Lose, because the agreement was less than FMV
b. Win, because the agreement was less than $500
c. Lose, because the agreement was not in writing & signed by Spear
d. Win, because Bond paid a deposit

Answer is B. But why is it not D?? Option contracts are not revocable. There was consideration in this contract. Isn't this a valid defense for Bond?


__________________
FAR-11/21/09 [97]
REG-02/06/10 [95]
BEC-04/03/10 [85]
AUD-07/07/10 [93]
Colorado board
I am done!
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