Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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1. A contract to sell real estate is generally not enforceable unless it is in writing.
a) True | |
b) False |
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- What is the time period of performance that requires contracts to be in writing? оо a. If a contract cannot be performed within one month, it is unenforceable unless it is in writing. b. If a contract cannot be performed within six months, it is unenforceable unless it is in writing. C. If a contract cannot be performed within one year, it is unenforceable unless it is in writing. d. If a contract cannot be performed within two years, it is unenforceable unless it is in writing.arrow_forwardThe principle from the case of Partridge v Crittenden is: Select one: a. Advertisements in a magazine can be accepted b. Advertisements in a magazine amount to an offer c. Advertisements in a magazine amount to an acceptance d. Advertisements in a magazine amount to an invitation to treatarrow_forwardLoan interest income ► S.15(1)(i) 。 sums, not otherwise chargeable to tax under this Part (i.e. not chargeable under s.14), received by or accrued to a financial institution by way of interest which arises through or from the carrying on by the financial institution of its business in Hong Kong, notwithstanding that the moneys in respect of which the interest is received or accrues are made available outside Hong Kong 。 Contrast to s.14: arising in or derived from HK What does "arises through or from" mean? Loan interest income is deemed taxable even though the loan is made available outside Hong Kong? 74arrow_forward
- answer quickly as soon as possiblearrow_forwardLoan interest income ► S.15(1)(i) 。 sums, not otherwise chargeable to tax under this Part (i.e. not chargeable under s.14), received by or accrued to a financial institution by way of interest which arises through or from the carrying on by the financial institution of its business in Hong Kong, notwithstanding that the moneys in respect of which the interest is received or accrues are made available outside Hong Kong 。 Contrast to s.14: arising in or derived from HK What does "arises through or from" mean? Loan interest income is deemed taxable even though the loan is made available outside Hong Kong? 74arrow_forwardLocate the doctrine in the UCC and describe “accommodation" in your own words. Be sure to provide a definition that is applicable in relation to the sale of goods and contracts. Now, apply the doctrine to the hypothetical below: You own Bo’s Garden Supplies and have used Mick’s Manure as a supplier for several years. Exchanging email, you and Mick agree that he will ship the usual 50 bags of manure around April 1st. On March 30th, he emails you to say that there was a shortage of full-size manure bags so 100 bags, totaling the same amount of manure, are on their way and will be there as of April. Is Mick in breach of contract? Why or why not? Please explain. What are your legal options?arrow_forward
- Buyer Bert can't believe that Seller Sam has had a last-second change of heart about entering into an agreement to sell his home to Bert. Sam has offered to refund Bert's earnest money and even pay him something in acknowledgment of Bert's inconvenience and disappointment, but Bert's not having it. He wants Sam's house. Choose the remedy for breach of trust that Bert will most likely take. demand specific performance initiate rescission accept compensatory damages settle for liquidated damagesarrow_forward22arrow_forward1) What is a Contract and what are its elements? 2) When is there a VALID OFFER? 3) What is Breach of Contract? 4) Differentiate Void from Voidable Contacts. 5) When is there Undue Influence in a Contract?arrow_forward
- 37. Reduce the required provision if some or all of the expenditure required to settle a provision is expected to be reimbursed by another party, when, and only when, it is probable that reimbursement will be received if the enterprise settles the obligation. Select one: True or Falsearrow_forwardThe sale or transfer of a partner's transferable interest is a(n) act of the partner. Multiple Choice involuntary state-mandated voluntary federally mandatedarrow_forwardWhat was the correct interpretation of condition 4 in DTR Nominees Pty Ltd v Mona Homes Pty Ltd (1978) 138 CLR 423? Choose one of the following. A plan containing the 9 lots being sold should have already been lodged for registration at the time of contract. The plan attached to the contract containing 35 lots could be registered in 2 stages, so long as the plan already lodged at the time of contract contained the 9 lots being sold. The plan attached to the contract containing 35 lots should have already been lodged for registration at the time of contract. The plan attached to the contract containing 35 lots could be lodged within 14 days of the contract being signed.arrow_forward
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