QUESTION 10 A clause contained in the contract that entitles a contracting party to payment of a sum of money if the other party is in breach of contract is known as O a. forfeiture clause O b. cancellation clause OC. interdict O d. penalty clause Save All Ansisers Click Save and Submit to saue and submit. Click Save All Answers to sae all ansuers

QUESTION 10 A clause contained in the contract that entitles a contracting party to payment of a sum of money if the other party is in breach of contract is known as O a. forfeiture clause O b. cancellation clause OC. interdict O d. penalty clause Save All Ansisers Click Save and Submit to saue and submit. Click Save All Answers to sae all ansuers

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

See similar textbooks

Similar questions

The duty of restoration is to protect adults that enter into contracts with children. Question 21 options: True False Minors are liable on certain contracts that are seen as necessaries of life...ie a contract for health insurance. Question 22 options: True False Consideration requires a bargained for exchange of value from both parties. Question 23 options: True False There does not need to be any exchange of words for there to be an implied contract. Question 24 options: True False When an illegal contract is executed upon, the court normally will leave the parties where it finds them even if partial performance has occurred. Question 25 options: True False
Question 9 Donald puts a lot of money into a bucket and gives Bernie a power of appointment over the money in the bucket. Bernie has the power to distribute that money only to himself, his creditors, his estate, or his estate's creditors. What is the correct name for his power of appointment? It is a/an: General power of appointment Limited power of appointment Question 10 True or False. The spousal consent rules for the annual exclusion require the non-donor spouse to consent to all gifts made by the donor spouse in that year; he or she cannot select which gifts he or she will join and which he or she will not. True False
Which of the following attorney's fees would not be deductible? Check all that apply!! Question 4 options: Attorney's fee paid by a sole proprietor to assist in collecting delinquent accounts Attorney's fee paid for preparing a title opinion and handling a closing pursuant to the purchase of a personal residence. Attorney's fee paid for preparing a title opinion and handling a closing pursuant to the purchase of a rental property. Attorney's fee paid for the purpose of preparing a Last Will and Testament. Attorney's fee paid by a landlord to assist in the eviction of tenants Attorney's fee paid to handle a defense of a business related criminal charge
Alf sells prestige used cars. In the window of his office showroom Alf displays a whiteboard. On January 20 Alf wrote on this board: • “2015 Ferrari, just arrived, mint condition, £50,000. Special offer • 2015 Porsche, just arrived, like new, £40,000”. Question Which TWO of the following statements are correct? A In relation to the Ferrari the statement on the whiteboard is an invitation to treat B In relation to the Ferrari the statement on the whiteboard is an offer C In relation to the Porche the statement on the whiteboard is an invitation to treat D In relation to the Porche the statement on the whiteboard is an offer Question On January 21 Benz came into the showroom and offered Alf £400,000 for the Ferrari. Alf told Benz that he would consider his offer and get back to him. On January 22 Alf phoned Benz and said he would definitely accept £450,000 for the Ferrari. Benz requested time to think about his decision. Alf agreed he would hold the offer to Benz open, and not accept an…
Acceptance to an offer must be done expressly by stating your acceptance to the offer. Question 1 options: True False Quasi contract is recognized as occurring under order of a court due to concerns of unjust enrichment. Question 2 options: True False A preexisting duty to do something may be sufficient consideration for a contract to exist. Question 3 options: True False Contracts of adhesion, where a consumer has no ability to negotiate, is an unconscionable contract. Question 4 options: True False An exculpatory contract that releases the other from liability is always illegal. Question 5 options: True False A person who has injested drugs or alcohol will automatically have the choice to make void any contract entered into while under the influence. Question 6 options: True False Consideration could be a party's willingness to refrain from doing an illegal act. Question 7 options:…
Michael Jordan specially orders a 10 foot mattress from Sleepy's without a written agreement. This contract is not enforceable. 3. Explain your answer to question 2.
Question Contract management can be defined as ‘the activities of a buyer before, during and after a contractis signed, to ensure that all parties to the contract understand and fulfil their contractual obligations’.Contracts may be for specific projects or for the supply of good or services over a period of time,typically between one to three years depending upon circumstances and objectives. Contractactivities can be split into two distinct but interdependent phases: pre-contract award/renewal andpost-contract management. Contract management is command and control of the activities spanningboth phases, but the potential value adding outcomes of post contract management will not berealised unless effective pre-contract management has resulted in a contract that addresses allstakeholders’ needs with the utmost professional skill. A failure in pre-contract management willresult in post-contract management time and effort being wasted on trying to resolve and correctomissions and…
The fraud-on-the-market theory creates a presumption of securities fraud based on plaintiff's reliance on defendant company's misrepresentations which affected the market price of the company's shares. Question 20 options: True False
D&R A3 1-1 Question 1. Plain Vanilla Interest Rate Swap Incredible Inc., a manufacturer of children’s toys, enters into a two-year plain vanilla interest rate swap, in which the corporation will receive a fixed rate and pay a floating rate of LIBOR. The notional amount on this swap is $75 million. Swap payments will be netted every 180 days, and the LIBOR requires the assumption of a 360-day year. The term structure of LIBOR on the swap initiation date is as follows: Days Rate (%) 180 3.50 360 3.55 540 3.60 720 3.70 What is the fixed rate determined on the swap initiation date?
State whether the following contracts are considered leases under PFRS 16. Why or why not? 1. Customer enters into a contract with an aircraft owner (supplier) for the use of an explicitly specified aircraft for a two year-period. The contract details the interior and exterior specifications for the aircraft. 2. Customer enters into a contract with a manufacturer (supplier) to purchase a particular type, quality and quantity of shirts for a three-year period.
- QUESTION 1 Green Tea 4 Life Ltd has requested your help in preparing their financial statements as they are unsure of the requirements of NZ IFRS 16 Leases for lessees. You are provided with the following lease details: Green Tea 4 Life Ltd is the Commencement date Lease term Economic life of asset Interest expense SCF classification IDC incurred by the lessee Upfront payment due on the commencement date Fixed payments per annum at year end Ownership transfer at end of lease Lessee's incremental borrowing rate The depreciation method used by the lessee The relevant present value discount factors are: Present value of $1 in n periods Present value of an annuity -5 1-8% Lessee 1 April 2019 5 years 10 years CFOA $10000 $30 000 $200 000 No 8% Straight line 0.6806 3.9927 (i) Prepare the journal entry to initially recognise the ROU asset and lease liability, at the commencement date. (ii) Complete the lessee's table in the space provided. Determine the total interest expense that would be…
Copyright © by Co-Bus Software, inc Copying, distributing, or Sid party wete posting expressly prohibited and constates copyrighvation the world's highest in Europe-Africa in Years 11-15, but is the highest in the world in the Asia Pacific region in Years 16-20. O highest in North America and Europe-Africa during the Year 11-15 period but is highest in the Asia-Pacific and Latin America regions during Years 16-20. O higher in the Asia-Pacific and Latin America regions than in the North America and Europe- Africa regions in Years 11-15; the same is true in Years 16-20. O 12-14% annually in all 4 regions during the Year 11-Year 15 period and 10-12% annually in all 4 regions during the Year 16-Year 20 period. O 10-12% annually in all four regions during Years 11-15. 3 6655