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salantis [7]
2 years ago
13

Fine properties, inc. , negotiates with general maintenance corporation to include a liquidated damages clause in their contract

. To be enforceable, at the time of the contract, an estimate of the damages from a breach must be.
Business
1 answer:
ss7ja [257]2 years ago
6 0

Fine Properties, Inc. negotiates with General Maintenance Corporation to include a liquidated damages clause in their contract. To be enforceable, at the time of the contract, an estimate of the damages from a breach must be: difficult

What Are Liquidated Damages?

A liquidated damages clause specifies a predetermined amount of money that must be paid as damages for failure to perform under a contract. The amount of the liquidated damages is supposed to be the parties' best estimate at the time they sign the contract of the damages that would be caused by a breach. If a breach occurs and the liquidated damages clause is enforceable, the parties do not calculate the actual damages (i.e., how much money a party actually lost as a result of the breach). Instead, the breaching party pays the predetermined sum provided by the liquidated damages provision.

How to set liquidated damage amount :

liquidated damages provisions are enforceable only if the damages are difficult to estimate, which makes it challenging to set an amount in the contract. Each party should make an effort to provide a rough estimate of how much money a breach would cost their business and negotiate an amount that is fair to both parties. If your contract concerns a long-term project, such as a construction contract, consider a liquidation provision that sets a fee for each day the completion of a project is past due.

Learn more about Liquidated damages :

brainly.com/question/17062273

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8 0
1 year ago
The most widely used method of job analysis for determining the duties and responsibilities of a job is the
laiz [17]
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8 0
3 years ago
MakerMan Manufacturing creates heavy-duty hand tools. It produces a new collapsible hammer called the SmackN’Stash. One of the f
hammer [34]

Answer:

Anyone who is injured by a defective product may sue the manufacturer, merchants, and all others who handled the product.

Explanation:

Strict liability means that an injured party may sue another even when they don not prove a case against them. A party is held liable for injuries from a certain activity.

For example a company that produces tools may be held liable when the machinery it produces causes injury during use by the injured party.

The injured party need not prove negligence of the defendant.

In this instance MakerMan Manufacturing is liable for the hammer that injured one of Rob's coworkers while they were using it.

Strict Liabilities are classified into 3: animals owned, product liability, and abnormally dangerous acts.

8 0
4 years ago
Depreciation Methods On January 2, 2018, Skyler, Inc. purchased a laser cutting machine to be used in the fabrication of a part
Studentka2010 [4]

Answer:

Part A  

1. Straight-line.    

Year   Depreciation expenses ($)  

2018  228,750  

2019  228,750  

2020  228,750  

2021  228,750  

2. Double-declining balance.  

Year   Depreciation expenses ($)  

2018  460,000  

2019  230,000  

2020  115,000  

2021  110,000  

3. Units-of-production. (Assume annual production in cuttings of 200,000; 350,000; 260,000; and 110,000.)    

Year   Depreciation expenses ($)  

2018  198,913  

2019  348,098  

2020  258,587  

2021  109,402  

Part B  

1. Straight-line.    

Year   Depreciation expenses ($)  

2018  114,375  

2019  228,750  

2020  228,750  

2021  228,750  

2022  114,375  

2. Double-declining balance.  

Year   Depreciation expenses ($)  

2018  230,000  

2019  345,000  

2020  172,500  

2021  86,250  

2022  81,250  

3. Units-of-production. (Assume annual production in cuttings of 200,000; 350,000; 260,000; and 110,000.)    

Year   Depreciation expenses ($)  

2018  99,457  

2019  273,505  

2020  303,342  

2021  183,995  

2022  54,701  

Explanation:

Note: See the calculation in the attached excel file.

Download xlsx
8 0
4 years ago
Read 2 more answers
In terms of the tax formula applicable to individual taxpayers, which of the following statements, if any, is correct?
creativ13 [48]

Answer:

The correct answer is a. In arriving at taxable income, a taxpayer must choose between the standard deduction and itemized deductions.  

Explanation:

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In tax legal relations, the taxable event shows the existence of an economic capacity in the subjects, but for the tax to be applied, this fact must be assessed in some way, usually in monetary units.

The tax base is ultimately the magnitude that is used in each tax to measure the economic capacity of the subject, such that it is reflected in ceilings.

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4 years ago
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