Irac 3 | Business & Finance homework help

 

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IRAC the following scenarios on one (1) document and upload the document in Canvas  (One IRAC for each scenario – a total of three separate IRACs on one  (1) Microsoft Word Document).

IRAC #1

Paula runs a bacon wrapped hotdog cart in front of the Los Angeles Coliseum. She has a sign on the cart that says:

Bacon Wrapped Hotdogs for $5.00

Cash ONLY

After a USC game, Peter walks up to the cart and says, “I’ll take two dogs”. Paula prepares the two bacon wrapped hotdogs and hands them to him, and Peter hands Paula the $10. IRAC only the formation of this contract.

IRAC #2

Jill is an artist and paints decorations on business windows during Christmas, Easter, Thanksgiving, and for other holidays and special events. Jack owns a retail store in downtown Glendora, and is reopening his store next week with new products. On Thursday Jack sees Jill eating breakfast outside at Ed’s Spot. While walking by, Jack says to Jill, “Hey Jill if you have time this weekend, if you paint ‘Grand Re-opening’ on my front window I will pay you $50. Jill says, “I’m pretty busy but if I have time, I’ll take care of that for you.” IRAC

IRAC #3

Paula runs a bacon wrapped hotdog cart in front of the Los Angeles Coliseum. She has a sign on the cart that says:

Bacon Wrapped Hotdogs for $5.00

Cash ONLY

After a USC game, Peter walks up to the cart and says, “I’ll take two dogs for $7.50”. Paula says, the best deal I can give you is two dogs for $9.00. Peter says, “I’ll take them”, and hands her the $9.00. IRAC only the formation of this contract.