Factual errors can occur in two ways: unilaterally or bilaterally. What are the implications of both in terms of a contract? 2. Can a contract be void if a value or quality error is made? Why do you think it is?

Q: e forward rate is not at parity during the outset of the contract, which theory of term structures…

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Q: Which one of the following is other indicator or events or conditions that may cast significant…

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Q: one key difference between option contracts aND FUTURE CONTRACTS IS THAT IN AN OPTION CONTRACT, THE…

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Q: In order to say that the buyer is insolvent in order for the seller to exercise his right to…

A: The answer and explanation is given is the next step :-

Q: Explain how the closure of the overseas branch and the onerous contract should be treated in…

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Q: First Statement: If the words of the contract are clear and leave no doubt on the intention of the…

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Q: Why onerous contracts are considered as a provision, even though they do not always come with a high…

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Q: In a destination contract for the sale of goods, which of the following is true concerning when the…

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Q: 2. Mr. Ahmed sold an item, which is damaged prior to delivery for an intention from seller's…

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Q: In performing a contract of sale of goods, there may be a situation where the seller fails to…

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Q: It’s a contract whereby a person binds himself to render some service or to do something in…

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Q: Revenue should be recognized over time when a performance obligation is satisfied over time. That…

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Q: First statement. The drawer’s liability is secondary. Second statement. The instrument becomes…

A: Financial Instruments: A financial instrument is defined as a contract between individuals/parties…

Q: What is the difference between an Offer for a unilateral contract and an Offer for a bilateral…

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Q: Forward contract is both a blessing and a curse because sometimes you feel that you should not have…

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Q: A negotiable instrument can be indorsed by way of a restrictive indorsement, which prohibits further…

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Q: Which of the following is not a mode of extinguishment of contract of sale? Group of answer choices…

A: The mode of extinguishment of contract of sale is::: Payment or performance of obligation..…

Q: True or False. An arbitration clause in a contract requires that any dispute concerning the contract…

A: The arbitration clause works in case of legal disputes between parties. It deals with the party's…

Q: Which of the following statements is true regarding contracts in ASC Topic 606 guidance for revenue…

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Q: The consideration received from a contract with a customer that does not meet the criteria unde…

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Q: A contract does not qualify for revenue recognition if Either party can unilaterally cancel the…

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Q: 1. If the forward rate is not at parity during the outset of the contract, which theory of term…

A: Step 1 Interest rate parity (IRP) is a hypothesis that states that the difference in interest rates…

Q: How contract is discharged by subsequent impossibility?

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Q: 20. Which of the following does not discharge a contract by operation of law? A - Bankruptcy B -…

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Q: Explain whether the following statement is true: “Duress is an unlawful threat of harm or injury…

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Q: The contract of sale is a consensual contract.   a. True b. False

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Q: the stakeholders position is not protected by a contract -unlike the provider of debt- how is it in…

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Q: Formalities in a contract can be self-imposed by the parties to a contract. Select one: True False

A: Contract is referred as an enforceable agreement, which helps in defining, creating, and also…

Q: Discuss the effects of ratification in voidable contracts

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Q: 4.   An encumbrance represents the estimated future liability for goods or services resulting from…

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Q: What is an onerous contract? Give two examples of an onerous contract.

A: When the cost of carrying out unavoidable obligations exceeds the benefit expected to be received…

Q: Which of the following does not meet the definition O the signing of a cancellable contract for…

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Q: Which of the following is not a condition in the determination of when a valid contract exists: O…

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Q: Under the new revenue recognition guidance in ASC Topic 606, which of the following statements is…

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Q: Does contract modification always result in a new contract if the modification adds distinct goods…

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Q: Under which of the following circumstance a contract does not exist   a-  The contract was not…

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Q: Give examples of obligations or contracts which are contrary to good custom.

A: Ethics implies the arrangement of rules that the association ought to follow. While in business,…

Q: Either party can choose to the contract in cases where both partiess to a contract are mistaken…

A: Mutual Mistakes is the result of an error by both parties about a material fact, i.e., one that is…

Q: TRUE or FALSE. A distinct good or service can be described as Not interrelated with other goods or…

A: Goods- Goods include things you can typically consume or possess, such as clothing, food,…

Q: TRUE OR FALSE   An instrument payable out of a contingency is not negotiable even if the…

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Q: A contract modification always results in a new contract if the modification adds distinct goods or…

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Q: An antenuptial contract must be notarially executed to be valid between the contracting parties.…

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Q: 9. Which one of the following is not a condition for a valid contract? A. There must be no known…

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Q: Do you believe that Bills of exchange cannot be voided? Yes, or No, and Why?

A: In this question, we will explain that Bills of exchange can be voided or not .

Q: Determine whether the statement is legally correct (true) or not (false). 1. An offer is subject to…

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Q: The proper remedy for the following cases is reformation of the instrument, except for one. Which is…

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Q: Goods on consignment should be included in the inventory of

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Q: Give the FIRST exception to the general rule that: If the consideration of the contract consists…

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Contingent Liabilities and Provisions

A contingent liability can be defined as a liability the occurrence of which is dependent upon the happening of an uncertain future event. It is generally recorded in the books only when the amount of liability can be reasonably estimated and the contingency is likely to occur shortly.