Did Jim and Laura Buy a Car?HINT: See Chapters 10-14 of the text to help understand some of the legal issues covered in this assignment. (Intro to Business Law - Cengage Advantage Books: Introduction to Business Law - ISBN: VS9781337013130R365)Jim and Laura Buyer visit the local car dealership because they are interested in buying a new car. The car they currently have is aging and is starting to have mechanical problems. Jim and Laura would share the new car, and use it to go back and forth to work and school. Before going to the dealership, Jim and Laura decide that they can only afford $400.00 a month in car payments.Once at the car dealership, Jim and Laura meet Stan Salesman. Stan shows them several vehicles and Jim and Laura test-drive several of the cars. Jim and Laura particularly like the blue 4-door sedan. Therefore, they agree to give Stan Salesman a $100.00 deposit to hold the car for a day. Stan Salesman does not give them the receipt but guarantees that the $100.00 is refundable. No documents were signed. The next day, Stan Salesman calls Jim and Laura to ask them when they would like to take delivery of the car. Jim and Laura, on the way home from the dealership, decided that they were not going to buy the car because they did not want to spend that money each month. Therefore, Jim and Laura tell Stan salesman that they have decided not to buy the car and request their $100.00 deposit back.Stan insists that the $100.00 was a deposit on the car and was meant to be part of the contract to buy the car. Stan is very persistent and insistent that Jim and Laura have contracted to buy the car; therefore, the $100.00 will be applied to the purchase price of the car. Jim and Laura are shocked and angry as not only do they not want to spend the money, but now feel as though they are being duped by Stan Salesman. Jim and Laura have an appointment to see a lawyer in a few days, but know you are a student taking a business law class and come to you for advice. They are very frazzled, and understandably upset that they may have just purchased a car. Since you have been taking business law, you have read and understand the elements of a contract and the defenses to a contract. Therefore, although you are not a lawyer, you provide some basic advice from what you’ve learned in your business law class.In three to five (3-5) pages, advise Jim and Laura based on the above facts as presented, the material provided in the text, and material covered in the lecture. In your paper, be sure to address the following:Define the elements of a legal contract using examples from the scenario where applicable.Decide whether or not there was a contract for the purchase of the automobile. Identify the facts from the scenario which support your decision on whether or not a contract exists for the purchase of the automobile. Use at least two (2) quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as quality academic resources.Format your assignment according to the following formatting requirements:Typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page is not included in the required page length.Include a reference page. Citations and references must follow APA format. The reference page is not included in the required page length.

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How do interest rates affect our lives? Interest rates are one way to express the price, or cost, of money obtained from someone else. For example, your credit card lends you money every time you make a purchase. Think about how interest rates affect your personal financial behavior with regard to spending and saving. Think also about the relationship between changing interest rates and longer-term interest bearing securities (bonds, mortgages, etc.), and how interest rates affect our lives in general. Answer ALL 4 questions below: Answer all of the questions below in your own words (200 words or more). There are no wrong answers, but you must justify your opinions.  Your answers must be well thought out, and well-written.  What do you think will happen with interest rates in the coming years? Do you expect them to continue to rise, and what economic conditions might influence these changes? A credit score is a number ranging from 300 to 850 that essentially represents the probability that someone will pay their bills, and are widely used by lenders to determine the interest rate that you will pay (for example, on a car or home loan) and your credit limit. Do you know your credit score (see credit karma.com (Links to an external site.))?  You do not need to disclose it, but what can you do to improve it? What is the current rate (approximately) for a 30-year fixed-rate mortgage? How will rising or falling interest rates affect a future home purchase?  In what situation might you prefer a variable rate mortgage? Suppose that you inherited some 2.25% US Treasury bonds from your grandfather that mature in 2027. Although they were originally purchased at par (and will mature at $1,000), they currently have a market value of around $950 each.  If you believe that interest rates will continue to rise, should you sell, hold, or try to buy more?  Explain why.