JD Next Practice Exam

Disable ads (and more) with a membership for a one time $2.99 payment

Prepare for the JD Next Exam with our quiz. Practice with flashcards and multiple choice questions, each with hints and explanations. Ace your exam!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

What is the value agreed upon between Arnie and Bill for the car?

$300
$400
$500
$250

The correct answer is: $400

The value agreed upon between Arnie and Bill for the car is determined by the context of the transaction, including factors such as negotiation, market conditions, and the perceived worth of the car by both parties. Given that the answer indicates a value of $400, it suggests that during their negotiations, they found a mutually acceptable price based on these considerations. In real-world scenarios, agreeing on a price involves assessing the car's condition, mileage, similar vehicles in the market, and the motivations of both parties. This process results in a price that both Arnie and Bill felt was fair, and in this case, it culminated at $400. Understanding this context helps to identify how such agreements are reached and reinforces the importance of negotiation skills in making successful transactions.