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
irina [24]
1 year ago
6

A woman decided to have a painting done of herself. She contracted in writing with an artist, who agreed to paint the woman for

$10,000.
Business
1 answer:
11111nata11111 [884]1 year ago
4 0

The cousin would be not be able to recover from the woman because of the following reasons:-

As the woman has a defense built into the contract, the cousin will not be able to recoup from her. The rights under a legal contract may be assigned by one of the original parties to a third party, who may then enforce those rights directly against the original party while typically being subject to whatever defenses the original party may have had against the assignor. The defense is always available against an assignee since it existed when the contract was created as long as it is an inherent defense, such as failure of a condition (even if whether the obligor would be able to utilize it was uncertain).

<h3><u>What does a legal contract suggest in this case?</u></h3>

In this case, the lady (the obligor) and the artist (the assignor) had a legally binding contract; as a result, the woman's commitment to buy the painting only if she was pleased with it was not illusory.

This is because she had to sincerely exercise her right to reject it. The contract's requirement that the woman be pleased with the painting became a condition of the cousin who the artist delegated his rights under the agreement to (the assignee). She can cite the painting's displeasure as an explanation for her failure to pay for it; this defense is included into the contract and prevents the cousin from suing the lady.

To know more about legal contracts, check the links.

brainly.com/question/7440468

brainly.com/question/8935110

#SPJ4

You might be interested in
Landis Company is preparing its financial statements. Gross margin is normally 40% of sales. Information taken from the company'
tatiyna

Answer:

$5,000= ending inventory

Explanation:

Giving the following information:

Gross margin is normally 40% of sales.

Sales= $25,000

beginning inventory= $2,500

purchases= $17,500

First, we need to determine the cost of goods sold:

COGS= 25,000*0.6= 15,000

Now, using the following formula, we can calculate the ending inventory:

COGS= beginning inventory + cost of goods purchased - ending inventory

15,000= 2,500 + 17,500 - ending inventory

5,000= ending inventory

5 0
2 years ago
Use the following information to answer the next question. Harvey quit his job at State University where he earned $45,000 a yea
algol [13]

Answer: Option(a) is correct.

Explanation:

Total Revenue = Units sold × price per unit sold

                        = 11,000 × $75

                        = $825,000

Explicit cost = Units sold × cost per unit

                    = 11,000 × $55

                    = $605,000

Implicit cost = Earning at state university + Entrepreneurial talent + cash bonds at 10% interest

                    = $45000 + $5,000 + ($100,000 × 10%)

                    = $60,000

Economic profits = Total Revenue - (Explicit cost + Implicit cost)

                            = $825,000 - ($605,000 + $60,000)

                            = $825,000 - $665,000

                            = $160,000

7 0
3 years ago
Based on age segmentation of a target market, which group is at peak earning power but seeks to spend only on products that prov
sp2606 [1]

Answer:

The correct answer is generation X.

Explanation:

Generation X are at their peak earning power, but they don't feel the need to show off their wealth. Instead, they look for products that provide value for the money and good performance.

<em>This is evident in the topic 8.4 of the chapter 8 of Principles of Marketing.</em>

6 0
3 years ago
For each of the following unrelated situations, calculate the annual amortization expense and prepare a journal entry to record
lakkis [162]

Answer:

Explanation:

Base on the scenario been described in the question, we use the following method prepare and slove the given problem

Solution to the problem is in file attached below

Option c will be

Base on this, the Cost of goods sold: $ 934

3 0
2 years ago
The American Marketing Association Statement of Ethics identifies six key aspirational
OlgaM077 [116]
The correct answer is b integrity
3 0
2 years ago
Other questions:
  • Sheryl’s Shipping had sales last year of $10,000. The cost of goods sold was $6,500, general and administrative expenses were $1
    7·1 answer
  • Explain what the domino theory is and how it fits with the truman doctrine ?
    14·1 answer
  • The High Towers Center is a 300-room hotel that was built ten years ago for a total project cost of $24,000,000. The market valu
    10·1 answer
  • Employees who find intrinsic value in their work are doing what is ____________.
    5·1 answer
  • If you are a producer and need to determine Q*, what rule do you use to determine Q*? (Q* = equilibrium quantity)
    12·1 answer
  • Tool Makers, Inc. make garden rakes extremely well and of the best quality in the industry. Their rakes are difficult to copy, a
    11·1 answer
  • Vega corporation expects to pay a 4​% bonus on net income after deducting the bonus. assume the corporation reports net income o
    9·1 answer
  • The Occupational Safety and Health Act does not require employers to abide by the regulations and the safety and health standard
    6·1 answer
  • Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000 units (the relevant ra
    15·1 answer
  • In relation to the time value of money, what is interest?
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!