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
kati45 [8]
1 year ago
15

Better Houses, Inc. has been contracted to build an addition on the Joyners' house. It built half of the addition and then unexp

ectedly announced that it was not going to finish the job. Such a desertion of work is called:
Business
1 answer:
topjm [15]1 year ago
8 0

Better Houses, Inc. has been contracted to build an addition on the Joyners' house. It built half of the addition and then unexpectedly announced that it was not going to finish the job. Such a desertion of work is called "Abandonment of contractual obligations".

<h3>What is contractual obligations?</h3>

Contractual obligations are responsibilities that each party is bound by law to fulfill under the terms of the agreement.

Each contract involves one or both parties exchanging anything of value in connection with a variety of duties, such as goods, services, money, etc.

Elements of a Contract are-

  • Offer: An offer was made when one of the parties pledged to carry out or refrain from carrying out a specific action in the future.
  • Promise of consideration: A promise of something of value in return for the intended conduct or inaction. This can be demonstrated by a substantial outlay of resources, a promise to provide a service, a commitment not to do something, or reliance on the promise. The incentive for the parties to enter into the agreement is known as consideration.
  • Acceptance: The offer was unmistakably accepted. Acceptance can be demonstrated through words, actions, or by carrying out the contract's requirements. In general, the terms of the acceptance must match those of the offer. If not, the acceptance is interpreted as a counteroffer and rejection.

To know more about the contractual obligations, here

brainly.com/question/22433474

#SPJ4

You might be interested in
A corporation choosing to follow a stability strategy would probably want a person with a conservative style, a production or en
andre [41]

Answer: Option B

 

Explanation: In simple words, a cautious profit planner refers to an individual, generally working as a manager of an organisation, that operates the business activities in such a way that too much risk will not get involved

    These managers focuses on getting organisation continuous profits over time at an appropriate level. They usually deals in such way that profit would be small but consistent leading to stability and future growth aspects.

Generally, mature firms of the industry employs such managers on their operations to Maintain the current level of activity over a long period of time.

3 0
3 years ago
Mike is registering his real estate company. He has a license and all of his sales associates and broker associates have license
padilas [110]

Answer:

If Mike was a real estate broker that wants to work independently, he can, but real estate agents cannot work independently, they must work for a real estate broker.

Since Mike works along with other sales associates and broker associates in a company, the company must be registered. All real estate companies must be registered in every single state that they do business in.

4 0
3 years ago
Assuming a 12% annual interest rate, determine the present value of a five-period annual annuity of $5,000 under each of the fol
Paraphin [41]

Solution :

Annual payment = $\$ 5000$

1. The rate of interest annually = 12%

Present value $=\$5000 \times \text{PVA of} \ \$1(12\%, 5)$

                      $=\$5000 \times 3.60478$

                     = $ 18,023.90

2. The rate of interest annually = 12%

Present value $=\$5000 \times \text{PVAD of} \ \$1(12\%, 5)$

                      $=\$5000 \times 4.03735$

                     = $ 20,186.75

3. The rate of interest annually = 12%

The rate of interest quarterly = 3%

Present value = $\$5000 \times \text{PV of} \ \$1(3\%, 4) + \$5000 \times \text{PV of} \ \$1(3\%, 8) +\$5000 \times \text{PV of} \ \$1(3\%, 12) $ $+\$5000 \times \text{PV of} \ \$1(3\%, 16) + \$5000 \times \text{PV of} \ \$1(3\%, 16)$

$= \$5000 \times 0.88849 + \$5000 \times 0.78941 + \$5000 \times 0.70138 + \$5000 \times 0.62317 + \$5000 \times 0.55368$$=\$ 17,780.65$

4 0
2 years ago
Branch Corporation issued $12 million of commercial paper on March 1 on a nine-month note. Interest was discounted at issuance a
siniylev [52]

Answer:

1                   Cash                                                     11,190,000

                      Discount on Note Payable                810,000

                       Note Payable                                          12,000,000

2-                 Interest Expense                                   810,000

                          Discount on Note Payable                    810,000

3-                  Note Payable                                       12,000,000

                           Cash                                                     12,000,000

Explanation:

In order to pass the Journal entry for issuance of Note Payable. First we need to calculate the Discount on issue of Bond Payable. The discount on note payable is calculated using the 12,000,000 x 9% x 9/12 = 810,000. In case of note payable is discount is interest expense for issuer hence on due corporation will pay full value of note to purchaser of note.

8 0
3 years ago
ERP success depends on several key factors being met. These factors include all of the following except _________. Select one: a
bonufazy [111]

Answer:

a. Minimize change for workers

Explanation:

Enterprise Resource Planning (ERP) is a method adopted by most companies to manage and integrate the various part of their business. This ERP is based on the usage of software for easier deployment of the integration and it depends on so many factors.

<em>An ERP software system can also integrate planning, purchasing inventory, sales, marketing, finance, human resources, and more of any given business enterprise.</em>

7 0
3 years ago
Other questions:
  • Hannah Johnson contributed equipment, inventory, and $53,000 cash to the partnership. The equipment had a book value of $25,000
    5·1 answer
  • "Which challenges has China faced in its efforts to become a major player in the global market for consumer electronics and othe
    10·1 answer
  • For each transaction recorded in an accounting system, the basic equation that must be maintained at all times is: Revenues = Ex
    10·1 answer
  • If a number entered in an unformatted cell is too long to be displayed in the cell, what will be displayed? ####### scientific n
    13·1 answer
  • Friends of the Court" documents filed by interested parties to encourage the Court to grant or deny certiorari, or to urge the C
    10·1 answer
  • A broker received a very high offer on a piece of property from a buyer. Bill makes a low offer through a "dummy" purchaser, or
    11·1 answer
  • Jorge Company had the following transactions during 2017. • Sales of $4,500 on account • Collected $2,000 for services to be per
    8·1 answer
  • Many workplace safety rules are created by which government agency?
    9·2 answers
  • Ben and Jerry were currently both producing at point A on their production possibilities frontier and then Ben decided he would
    13·1 answer
  • the builders of the transcontinental railroad used legal and illegal means to cut costs and finance construction. which phrases
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!