Juan entered in an oral contract to buy luke's vacant building for $50,000. He gave Luke a $5,000 deposit. They intended to reduce their agreement to a written contract letter. Pursuant to their oral agreement, Juan took possessions of the building and spent $30,000 making improvements so that it would be capable of being rented to the public. Due to rise in the value of similar properties, Luke served Juan with a notice to vacate the building. Luke contends the oral contract is unenforceable and that Juan must vacate the building. a. What is Luke's best argument that the contract is unenforceable? b. What arguments could Juan make to argue that the contract is enforceable? c. With whom do you agree? Why?
Answers
A. ) Luke's best argument that the contract is unenforceable is that the oral contract violates the Statute of Frauds
B) making it clear that there was an agreement between them (C) I agree with Juan that the contract is enforceable.
a. What is Luke's best argument that the contract is unenforceable?Luke's best argument that the contract is unenforceable is that the oral contract violates the Statute of Frauds which requires all contracts involving real estate to be in writing. Therefore, Luke could argue that there was never a valid contract between them and that Juan has no legal rights to the building.
b. What arguments could Juan make to argue that the contract is enforceable?Juan could argue that he has paid a deposit and also spent a substantial amount of money on making the necessary improvements to the building with the expectation that the contract would be finalized in writing. Juan can also argue that they already had an oral contract in place, and he had taken possession of the building, making Luke's argument void because of the part performance doctrine, which states that if a party has already performed part of the contract, the contract should be considered valid. Juan could also show that the work done on the building was done with the knowledge and approval of Luke, therefore making it clear that there was an agreement between them
.c. With whom do you agree? Why?I agree with Juan that the contract is enforceable. Although there was no formal contract in place, Juan had already made a deposit and had spent $30,000 improving the building. Furthermore, Luke had allowed Juan to take possession of the building and make improvements to it, which implies that there was a mutual agreement between them. Juan had shown evidence of partial performance of the contract, which is sufficient to show that the contract was valid. Additionally, it is a general principle of contract law that oral contracts are enforceable, although they may be more challenging to prove than written contracts
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Related Questions
1. Can a manager be effective if he or she does not have leadership skills? Explain your
answer.
Answers
No it is not possible for a leader that does not have leadership skills to be an effective leader.
Leadership skills are those skills that are used to guide and direct other people towards a shared goal or a common purpose.
A leader that lacks the basic leadership skills is going to fail when it comes to managing a group. They would lack the ability to plan, execute and motivate.
At the end of the day, such leaders are more likely to cause more harm than good.
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Match the term with the correct definition.
Democracy:
Aristocracy:
Oligarchy:
Kleptocracy:
Gynecocracy:
Autocracy:
Answers
A state where politicians and government employees steal a significant amount of the wealth of the nation because corruption has become so institutionalized.
government signifies "rule by the trivial few" 2.Based on their military might, family power, or religious authority, very few people hold all power.3.It is not uncommon for oligarchies to originate from or lead to other types of government, such as monarchies and dictatorships.
How does direct democracy work?
Direct majority rules system, in some cases called "unadulterated majority rules system," is a type of a vote based system in which all regulations and strategies forced by still up in the air by individuals themselves, as opposed to by delegates who are chosen by individuals.
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grand corporation reported pretax book income of $609,000. tax depreciation exceeded book depreciation by $406,000. in addition, the company received $304,500 of tax-exempt municipal bond interest. the company's prior-year tax return showed taxable income of $50,750. compute the company's current income tax expense or benefit.
Answers
The current income tax benefit is $98,275.
Tax depreciation exceeds book depreciation by $406,000. Furthermore, the company earned $304,500 in tax-exempt municipal bond interest.
The previous year's tax return indicated that the company had taxable income of $50,750. Compute the company's present income tax expense or benefit.
It is essential to know the corporate tax rate before calculating the company's present income tax expense or benefit. The corporate tax rate is 21%.
Income tax expense or benefit computation:Computation of Pretax Income = Pretax Book Income + Depreciation Add-back - Excess of Tax Depreciation over Book Depreciation + Tax-Exempt InterestComputation of Pretax Income
= $609,000 + $406,000 - $304,500 = $710,500
The company's taxable income in the current year is $710,500. As previously said, the corporate tax rate is 21 percent. As a result, the company's current year tax benefit or expense is calculated as follows:
Taxes = 0.21* $710,500Taxes = $149,025
Since the company had a taxable income of $50,750 in the prior year, the company will get a tax benefit for the present year since its taxable income has increased in the current year.
Therefore, the tax benefit in the current year is:Taxes - Prior Year Tax Expense = $149,025 - $50,750 = $98,275The company's current income tax benefit is $98,275.
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when a firm integrates the competitive strategies of cost-leadership and differentiation, it will most likely result in
Answers
What's the answer I need help ASAP!!
Answers
Answer:
B
Explanation:
Describe each of the three categories that money is generally placed in. Include an example of each. (4 points)
Subject is (Economic)
Answers
Answer:
other have in business is 1 pesos 2 pesos if u want to have a price like 1 pesos in 1 piece
what is democracy????
Answers
Explanation:
a system of government by the whole population or all the eligible members of a state, typically through elected representatives.
Answer:
A system in which government is selected by the citizens....
with reference to relevant legislation , case law, and secondary sources briefly explain different functions of taxation
Answers
Answer:
Tax is a statutory obligation to pay an amount to the state or other public body, which is imposed on a person or company on the basis of their activities, without a direct connection to consideration from the payee. The main purpose is usually to finance the public sector. The tax can also have other purposes, such as equalizing income or influencing people's actions with the help of financial incentives.
The following information is available for Birch Company at December 31: Cash in registers $ 2,910 Investment maturing in 9 years $ 16,200 Accounts receivable $ 1,775 Cash in bank account $ 23,631 Accounts payable $ 770 Cash in petty cash fund $ 320 Inventory of postage stamps $ 30 U.S. Treasury bill maturing in 15 days $ 11,200 Based on this information, Birch Company should report Cash and Cash Equivalents on December 31 of:
Answers
Based on the various account balances that Birch Company has, they should report a total of $38,061 for Cash and Cash equivalents.
Cash and Cash Equivalents are the actual cash that a company holds as well as those that can readily be converted to cash.
They include:
Actual cash Cash in bank Cash in petty cash U.S. Treasury bills Money market fundsThe total of cash and cash equivalent here are:
= Cash in registers + Cash in bank + Cash in petty cash + U.S. Treasury bills
= 2,910 + 23,631 + 320 + 11,200
= $38,061
In conclusion, Birch Company has Cash and Cash Equivalents of $38,061.
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Write the 3 steps in legalizing a business (explain it briefly)
STEP 1:
STEP 2:
STEP 3:
Answers
Answer:
The 3 types of business entities that are most common are the sole proprietorship, limited liability company (LLC), and corporation. Each has their own distinct advantages and disadvantages, depending on what you and your business need.
Explanation:
Some of these crucial legal formalities that entrepreneurs in India should be aware of before setting up a business venture are:
1) Deciding on a business name. ...
2) Creation of a founder's agreement. ...
3) Acquire all the legal licenses and registrations. ...
4) Be acquainted with the relevant tax regime and accounting norms.
1. Clark is the kind of manager that values input from his team and likes to involve them in the decision-making process. He prefers to avoid micromanagement and works hard to make
sure that his employees are well taken care of and empowered to make decisions. Based on this, what kind of manager is Clark?
reductive manager
exploitative manager
о
confrontational manager
democratic manager
Answers
Answer:
democratic manager
Explanation:
A democratic manager invites participation from members in the decision-making process. In this leadership style, every member is encouraged to contribute their ideas and opinions. Members' involvement leads to increased feelings of recognition and satisfaction.
Democratic leadership is also referred to as participative leadership. It contrasts with autocratic leadership, where the leader makes all the decisions without consultation.
You are in work and a group of coworkers are complaining about a project deadline. Which of the following is not an example of avoiding negativity?
-complain along with your co-workers
-see the positive side of the situation
-stay away from the gossip
be part of the solution
Answers
Answer: complain along with your co-workers
What are the goals of government regulation?
low unemployment, price stability,
economic growth
O high unemployment, price instability,
economic growth
low unemployment, price stability,
economic steadiness
O high unemployment, price instability,
economic steadiness
Answers
Answer: A) low unemployment, price stability, economic growth
Explanation: Government regulation attempts to promote growth, full employment, and price stability for the well-being of the citizens
The goals of an ideal government while making regulations shall include the following purposes,
low unemployment, price stability,economic growth.Therefore, the option A holds true.
What is the significance of government goals?The goals of a government can be referred to or considered as the qualitative and quantitative targets set by the government in order to foresee better conditions in the future. These are backed by economic plans and regulations.
For a developing or a developed government, the goals must be economically based while being regulated. These goals must include reduced poverty and unemployment in order to achieve a healthy economic growth.
Therefore, the option A holds true and states regarding the significance of the goals of a government.
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Do you believe that consumers consider a brand's supply chain ethics when they purchase apparel? Do consumers bear any responsibility for the ways in which laborers in the apparel industry are treated? Would you be willing to pay a premium for a brand that was transparent about their efforts to ensure that laborers are paid a fair wage and treated decently?
Answers
Please find full question attached
Answer:
Yes consumers would be i
Explanation:
1. As a manger, in accordance with the HR process, how would you work in tandem with HR to ensure that you retain quality employees, thus adding to the overall satisfaction of employee, and keeping turn over low?
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Answer:
The first crucial guideline and ICT information that the management should be conscious of in order to be able to handle the many responsibilities all at once and achieve relevant achievement for the corporation's administration is to organize appropriately.
The second crucial talent that a manager must possess in order to effectively manage a firm is the ability to organise. This refers to the manager's capacity to delegate necessary duties, obligations, and responsibility to the subordinates.
the year the volleyball was introduced
Answers
Answer:
The Year was 1895
Hope that helps!
What phrase could a licensee use in advertising that would not discriminate on the basis of familial status
Answers
Senior discount is the phrase that a licensee could use in advertising that would not discriminate.
A familial status discrimination is known to occurs when the landlord, manager or property owner treats someone very differently.
The other options clearly discriminate the familial status.
Hence, the Senior discount is the phrase that a licensee could use in advertising that would not discriminate.
Therefore, the Option is correct.
Missing options "Couples only Empty nesters No bicycles allowed Senior discount"
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Metro, Inc. Sells backpacks. The Company's accountant is preparing the purchases budget for the first quarter operations. Metro maintains ending inventory at 20% of the following month's expected cost of goods sold. Expected cost of goods sold for April is $70,000. All purchases are made on account with 25% of accounts paid in the month of purchase and the remaining 75% paid in the month following the month of purchase. Sales January February March Budgeted cost of goods sold $ 40,000 $ 50,000 $ 60,000 Plus: Desired ending inventory 10,000 Inventory needed 50,000 Less: Beginning inventory (8,000 ) Required purchases $ 42,000 Based on this information the total cash paid in March to settle accounts payable is
Answers
The total cash paid in March to settle accounts payable is $10,500 + $11,250 = $21,750.
To calculate the total cash paid in March to settle accounts payable, we need to consider the purchases made in February and March.
In February, the purchases were $42,000 * 25% = $10,500. This amount is paid in the month of purchase, so there is no outstanding payment for February purchases in March.
In March, the purchases were $60,000 * 25% = $15,000. Since 75% of accounts are paid in the month following the month of purchase, we need to calculate 75% of March purchases that are paid in March. 75% of $15,000 = $11,250.,the total cash paid in March to settle accounts payable is $10,500 + $11,250 = $21,750.
The purchases budget is prepared to estimate the amount of inventory that needs to be purchased during a specific period. It takes into account the expected cost of goods sold and the desired ending inventory. In this case, the expected cost of goods sold for April is given as $70,000. By subtracting the beginning inventory and adding the desired ending inventory, the required purchases for the first quarter are calculated.
The payment terms for the purchases are also considered in the budget. It is stated that 25% of accounts are paid in the month of purchase and the remaining 75% is paid in the following month. This means that a portion of the purchases made in February is paid in February itself, while the remaining portion is paid in March. Similarly, a portion of the purchases made in March is paid in March.
To determine the total cash paid in March to settle accounts payable, we need to calculate the amount of purchases that are paid in March. This includes the 25% of March purchases that are paid in March itself and the outstanding payment for the remaining 75% of February purchases. By adding these two amounts, we can find the total cash paid in March. In this case, the total cash paid in March to settle accounts payable is $21,750.
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Hazmat labels are used to communicate information necessary to protect human health and the environment
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The natural environment or natural world encompasses all living and non-living things occurring naturally, meaning in this case not artificial.
What is the meaning of Environment?An organism's environment is made up of the external conditions, resources, stimuli, etc. that it interacts with.
We are impacted by everything around us. You decide if they are still alive or not. It is made up of organic forces like both physical and chemical ones. Living creatures occur in environments. They are constantly engaging with it and adapting their actions to the situation.
Everything in our immediate surroundings—including both living and nonliving things including air, water, soil, plants, and animals—is considered to be part of our environment. The magnificence of nature sustains life on Earth.
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why should a code of ethics be put into writing regardless of the size of the business?:
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A code of ethics is a set of principles and standards that guide the behavior of individuals in an organization. It provides a framework for decision-making, establishes expectations for conduct, and helps to create a culture of integrity and accountability.
A code of ethics should be put into writing regardless of the size of the business for several reasons:
1. Clarity: A written code of ethics provides clarity and understanding about the values and principles that guide the behavior of employees. It outlines what is expected of them and what is not acceptable in terms of behavior and decision-making. This can help to prevent confusion and misunderstandings about ethical issues and can help to ensure consistency in behavior across the organization.
2. Legal protection: A written code of ethics can serve as a legal document that protects the company from liability in the event of ethical violations by employees. It can demonstrate that the company has taken steps to establish ethical standards and has communicated those standards clearly to employees. This can help to mitigate the risk of legal action and damage to the company's reputation.
3. Reputation: A written code of ethics can help to establish the company's reputation as a responsible and ethical organization. It can signal to customers, investors, and other stakeholders that the company is committed to ethical behavior and is willing to hold itself accountable to high standards.
4. Employee engagement: A written code of ethics can help to engage employees by creating a sense of purpose and shared values. It can help employees to understand how their work contributes to the overall mission of the organization and can provide a framework for decision-making that aligns with the company's values.
In conclusion, a code of ethics should be put into writing regardless of the size of the business because it provides clarity, legal protection, reputation, and employee engagement. It is an important tool for establishing and maintaining an ethical culture within an organization.
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what are non economic resources?
Answers
Answer:
Non-Economic resources are all those resources that are generally limitless in supply and are not rationed by prices ie (they have no price tags) they are not characteristically traded in markets.Answer:
Non-Economic resources are all those resources that are generally limitless in supply and are not rationed by prices ie (they have no price tags) they are not characteristically traded in markets.
Explanation:
What is the name of the legal documents that specify arrangements between partners?
A. General Partnership
B. Fartnership Contract
C. Partnership Agreement
D. Articles of Partnership
Answers
Answer:
C. Partnership Agreement
Explanation:
It's the legal document that dictates the way a business is run and details the relationship between each partner.
Say a certain service industry has 78. 9 thousand jobs in 2003, but expects to increase at an average annual rate of 2. 65 thousand jobs yearly from 2003 to 2013. If this holds true, what will be this industry’s percent increase from 2003 to 2013? a. 28% b. 30% c. 33% d. 40%.
Answers
Answer:
C. 33%
Explanation:
i just did it
BOX 2.5 Case Highlight Limiting Imports of Hormone-Treated Beef Case Name and Tribunal European Communities-Measures Concerning Meat and Meat Products (Hormones) (WTO Appellate Body, 1998)17 Facts In response to concerns of EU citizens about the risks presented by beef injected with natural and synthetic growth hormones, the European Union imposed a ban on the import of such beef. The United States challenged the restriction under the SPS Agreement, claiming that the panel reviewing the issue evalu- ated the risk associated with the use of hormones for growth promotion twice and the only evidence on record showed that the studies looked at a "theoretical framework for the systemic analysis of such problems" but did not actually investigate and evaluate the problems that arise from the use of such hormones. Issue Did the EU's ban on hormone-treated beef comply with the re- quirements of the SPS Agreement? Decision A risk assessment, as required by Article 5.1, is "a scientific process aimed at establishing the scientific basis for the sani- tary measure a Member intends to take." The ban was found not to be based on a risk assessment that followed scientific principles and procedures and, therefore, was in violation of the SPS Agreement. Analysis/Application In order to rely on exceptions to the GATT under the Agree- ment on Technical Barriers to Trade (TBT Agreement), member states must rely on sound scientific principles and provide evi- dence of such. Aftermath The case raised difficult issues and required a consideration of the uncertainty presented by divisions of scientific opinion. The European Union was unwilling to remove its restrictions on the import of the hormone-treated beef, with the result that the WTO in 1999 authorized the United States and Canada to col- lect penalties of more than $100 million per year in extra duties on European exports. The European Union brought the issue back to the WTO, where unprecedented open hearings were held in 2005. The European Union argued that new scientific evidence showed that the European Union complied with the 1998 WTO judgment. The impasse between the United States and the European Union was settled by way of a negotiated agreement in 2012 in which the European Union kept its ban on importing hormone-treated beef but increased its quota for importing beef from Canada and the United States.
Answers
The case mentioned is the European Communities-Measures Concerning Meat and Meat Products (Hormones) case, which was brought before the WTO Appellate Body in 1998.
The case involved a dispute between the European Union (EU) and the United States regarding the EU's ban on the import of beef treated with growth hormones.
The EU had imposed the ban in response to concerns raised by its citizens regarding the potential risks associated with the consumption of beef injected with natural and synthetic growth hormones. The United States challenged the ban, arguing that the EU had not conducted a proper risk assessment as required under the Agreement on the Application of Sanitary and Phytosanitary Measures (SPS Agreement).
The Appellate Body, in its decision, determined that the EU's ban on hormone-treated beef did not comply with the requirements of the SPS Agreement. It stated that a risk assessment should be a scientific process aimed at establishing the scientific basis for the sanitary measure, and the EU's ban did not follow scientific principles and procedures.
The case highlighted the importance of relying on sound scientific principles and providing evidence when implementing trade measures that may restrict imports. Under the Agreement on Technical Barriers to Trade (TBT Agreement), exceptions to the General Agreement on Tariffs and Trade (GATT) require adherence to scientific principles.
The aftermath of the case resulted in tensions between the United States and the European Union, with the WTO authorizing the United States and Canada to impose extra duties on European exports. Subsequent efforts were made to resolve the dispute, and in 2012, a negotiated agreement was reached. The European Union maintained its ban on importing hormone-treated beef but increased its quota for importing beef from Canada and the United States.
Overall, the case showcased the challenges of balancing trade restrictions based on public health concerns and the need to ensure that such measures are supported by scientific evidence and comply with international trade agreements.
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It is common for firms to get their start by introducing a(n) ______ innovation.
Answers
It is common for firms to get their start by introducing a disruptive innovation. Disruptive innovation refers to the development of a product or service that creates a new market and eventually disrupts existing markets or industries.
This type of innovation often targets customers who are overlooked or underserved by existing products or services. Disruptive innovations can initially be seen as inferior to established solutions but offer other benefits, such as lower costs or increased accessibility.
A classic example of a disruptive innovation is the personal computer, which initially appealed to a niche market but eventually transformed the entire computer industry. Another example is ride-sharing services like Uber and Lyft, which disrupted the traditional taxi industry by offering a more convenient and affordable alternative.
By introducing disruptive innovations, firms can gain a competitive advantage and establish themselves in the market. These innovations have the potential to revolutionize industries and change the way businesses operate.
In summary, it is common for firms to get their start by introducing a disruptive innovation, which creates a new market and disrupts existing industries by targeting underserved customers with new, often more affordable, and accessible solutions.
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The balance on a credit card, that charges a 20%
APR interest rate, over a 1 month period is given in
the following table:
Days 1-5: $200 (initial balance)
Days 6-20: $350 ($150 purchase)
Days 21-30: $150 ($200 payment)
What is the finance charge, on the average daily
balance, for this card over this 1 month period?
finance charge = $ [?]
Round to the nearest hundredth.
Enter
Answers
The balance on a credit card, that charges a 20% APR interest rate, the Finance charge is given as
$4.3055
This is further explained below.
What is the APR interest rate?Generally, The interest rate that is applied to a loan, mortgage loan, credit card, etc. is referred to as an annual percentage rate of charge, which sometimes corresponds to a nominal APR and sometimes corresponds to an effective APR.
The annual percentage rate of charge is the interest rate for the entire year, as opposed to just a monthly fee or rate. It is a fee for financing that is presented in the form of an annual rate.
Interest rate APR = 12%
Average balance = ((200*5)+(350*15)+(150*10))/30
Average balance = $258.33
Average balance*APR/12
Finance charge =\(\frac{258.33*20 \%}{12 }\)
Finance charge = $4.3055
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Give an example of how a caregiver could help improve a child's perception
Answers
Answer:
knowledge and awareness, including accurate information about child development and appropriate expectations for children's behavior at every age. Such knowledge can help caregivers see their children in a positive light and promote their healthy development.
Explanation:
When discussing choosing a Cunningham for the jury, Atticus says, “When you analyze it, there was little risk. There’s no difference between one man who’s going to convict and another man who’s going to convict, is there? There’s a faint difference between a man who’s going to convict and a man who’s a little disturbed in his mind, isn’t there?
Answers
Atticus says they're pοοr grοwers, but want tο get by οn their οwn. Hοwever, they pay in crοps because that's all they can dο, If they need tο hire peοple.
Atticus has nοthing against the Cunninghams, but Scοut dοes n’t knοw any better. She said tο Calpurnia, “ he ain’t cοmpany, Cal, he’s just a Cunningham.
”She alsο says that he lοοks like he was raised οn fish fοοd. After Scοut explained why she was frenetic at Walter, he tοld her tο put herself in his shοes. That yοu nοway really knοw a persοn unless yοu see the wοrld in their pοint οf view.
The Finches are analοgοus tο the Cunninghams because bοth families are cοnsidered pοοr because οf the Great Depressiοn, indeed thοugh the Cunninghams have lοwer. The are different because οf sοcial class.
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How much will $200 in new spending change equilibrium income if the marginal propensity to save is 0.2
Answers
Answer:
$250
Explanation:
1/MPS=1/(1-0.02)=1.25; 1.25x$200= $250
how much water is in a water melon plz use percentage. here is 10 points
Answers
answer:
92 percent
explanation:
watermelon contains 92 percent water and 6 percent sugar