1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
liberstina [14]
3 years ago
7

Portraits. Belinda, a famous portrait painter, agreed to paint Harry's portrait for $5,000. She also agreed to paint the portrai

ts of Michelle's two Welsh Corgi dogs, Baby and Bree. Michelle agreed to pay Belinda $12,000 for the portraits. Belinda charged Michelle more because dogs annoyed her. Belinda met the spoiled dogs, and they really got on her nerves. Plus, she was behind on finishing Harry's portrait. Belinda, therefore, proceeded to assign the right to receive the money for the dog portraits and the duty to paint the dog portraits to her assistant, Fred. He eagerly accepted and painted the portraits. As payment for amounts she owed him for various duties, Belinda also assigned to Fred the right to receive payment from Harry. Neither the contract Belinda had with Harry nor the contract she had with Michelle expressly prohibited assignment or delegation of contractual rights and duties. Belinda finished the portrait of Harry and called him to come and pick it up. Meanwhile, a disgruntled secretary who disliked Belinda told both Michelle and Harry about the agreements with Fred. Michelle was furious and refused to pick up the portrait or pay anyone. Harry likewise refused to pay for his portrait claiming that the right to payment could not be assigned. What would be the most likely result if Fred sues Harry for the $12,000 payment?
A. Fred will lose unless Fred can prove that he was ignorant of the fact that Harry did not want the benefits assigned.
B. Harry will win because the portrait was personal in nature and could not be assigned.
C. Harry will win because he did not expressly agree to the assignment.
D. Fred will win because the right to receive payment could be validly assigned.
E. Fred will win unless Harry can prove that Fred knew that Harry did not want the benefits assigned.
Business
1 answer:
nasty-shy [4]3 years ago
7 0

The most likely result if Fred sues Harry for the $12,000 payment is D. Fred will win because the right to receive payment could be validly assigned.

It should be noted that every contract creates its own rights and duties. Based on the information given, the obligee is Belinda.

The obligee in this case transfers the right to receive payments to a third-party who is Fred. Also, from the information, Belinda gave Fred the right to receive the payment from Harry.

Therefore, based on the above information, Fred has the right to receive payment. Therefore, if Fred sues Harry for the $12,000<em> payment</em>, he'll win.

Read related link on:

brainly.com/question/24978955

You might be interested in
The most recent financial statements for Cardinal, Inc., are shown here: Income Statement Balance Sheet Sales $23,500 Assets $12
finlep [7]

Answer:

$20,370.5

Explanation:

Net Profit Margin = Net Profit / Sales= 5,168 / 23500 = 0.219915 = 21.99%

Dividend Payout Ratio = Dividends / Net profit = $1,560/$5,168 = 0.3018576 = 30.19%

Increase in Assets = Total Assets / Current Sales * Change in Sales

Increase in Assets = 121,000 /23,500 * (28,300-23,500)

Increase in Assets = 5.1489362 * 4800

Increase in Assets = $24714.89

Increase in Current Liabilities = Current Liabilities / Current Sales * Change in Sales = 0

Earnings Retained = Revised sales * Net profit margin * (1- dividend payout ratio)

Earnings Retained = $28,300 * 21.99% * (1 - 30.19%)

Earnings Retained = $28,300 * 0.2199 * 0.6981

Earnings Retained = $4344.39497

Earnings Retained = $4344.39

External Financing Needed = Increase in Assets - Increase in Current Liabilities - Earnings Retained

External Financing Needed = $24714.89 - $0 - $4344.39

External Financing Needed = $20,370.5

7 0
3 years ago
Specific identification is ______. Multiple choice question. a high-tech security technique for identifying key employees a deta
ELEN [110]

Specific Identification is the accounting record of the transactions of the proposal, that is, an inventory method that tracks which item is actually sold and debits.

<h3>What is specific identification?</h3>

It is an accounting record between income and expenses, used to keep track of identifiable and cost-specific inventory items.

This method gives managers or members of an entity a greater possibility of manipulating profits by identifying units in ending inventory as coming from specific purchases.

Therefore, we can conclude that the specific identification method is to track the cost of each item or category of products in the inventory.

Learn more about specific identification here: brainly.com/question/25056275

6 0
2 years ago
Operations managers at Alumax Corporation have found that they can achieve efficient production only by producing very large qua
DedPeter [7]

Answer: continuous production process

               

Explanation: In simple words, it refers to a production process in which the organisation has to keep doing the production due to the potential loss of of degradation of the raw materials or any other such factors.

In the given case, the company is able to produce efficiently only if they produce in large quantities.

Hence they should indulge in continuous production process.

7 0
3 years ago
"Some​ companies, such as​ Heinz, can forecast revenues well using pure time series analysis​ (that is, by extrapolation of prio
qwelly [4]

Answer:

Heinz sells ketchup and other sauces and condiments. Their demand is relatively stable and doesn't change that much year after year. The demand for their products is not that seriously affected by economic recessions or expansions.

On the other hand, Sony is a consumer electronics company and the demand for their products can vary drastically from one year to another. It depends on trends and innovations, and their total sales are affected by disposable income (expansions increase disposable income while recessions decrease it).

FedEx is also affected severely by economic recessions or expansions. Since FedEx ships and transports goods, when the economy is booming, FedEx is doing excellent. But if the economy starts to cool down or enters a recession, the amount of goods transported falls.

4 0
3 years ago
If fixed costs are $1,200,000, the unit selling price is $240, and the unit variable costs are $110, what is the amount of sales
Lady bird [3.3K]

Answer: The amount of sales required to realize an operating income of $200 000 is a. 10,769 units.

Explanation: We can solve it with a simple equation:

200 000 = 240x - 1 200 000 - 110x

200 000 + 1 200 000 = 240x - 110x

1 400 000 = 130x

1 400 000 / 130 = x

10769, 23077 = x

We check: 240 . 10769,23077 - 1 200 000 - 110 . 10769,23077  = 200000 √

5 0
3 years ago
Other questions:
  • Collisions caused by fatigue are particularly likely to involve
    12·1 answer
  • Q 8.14: The financial statements of the Imagine Company report net sales of $1,000,000 and accounts receivable of $700,000 and $
    8·1 answer
  • Journal EntryThe company has an unadjusted debit balance in Accounts Receivable of $25,000 and an unadjusted credit balance of $
    11·1 answer
  • Ricardo works part time at a local computer store. One day, his manager approaches him about moving from cashier to floor superv
    14·1 answer
  • Beswick company your team is allocated a project involving a major client, the beswick company. although the organization has ma
    8·1 answer
  • Miller owns a personal residence witha fair market value of $308,000 and an outstanding first mortgage of $246,400. Miller gets
    9·1 answer
  • Which of the following is not an example of a liability?
    15·2 answers
  • What pricing strategies do McDonalds use.
    12·2 answers
  • If the price elasticity of demand for a product is -2.5, then a price cut from $2.00 to $1.80 will _________ the quantity demand
    10·1 answer
  • qzuilet which of the following best describes upics? a. upics are federally funded. b. upics are paid by grant monies. c. upics
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!