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Dmitry_Shevchenko [17]
1 year ago
13

fred and wilma enter into a contract for horse riding lessons. fred accidentally types the price for lessons to be $4.00 each in

stead of $44.00 each. wilma wishes to enforce the contract at $4.00 per lesson. which remedy would be most effective?
Business
1 answer:
ryzh [129]1 year ago
4 0

Reformation would be most effective in the case of Fred and Wilma.

<h3>What is the contract?</h3>

A promise that is enforceable by law is a contract. The commitment could be to carry out or abstain from a certain action. A contract must be made by two or more parties who must agree to it, with one of them typically making a proposal and the others accepting it.

The contract will be reformed as this was an error that was made with regard to the amount of $44 instead of $4. Fred was at a mistake but the change is going to happen with the same cause.

When an error has been made in a compact, the tribunal has the equitable authority to reconstruct it to match the parties' real intentions.

Learn more about the contract, here:

brainly.com/question/2669219

#SPJ1

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A worker’s positive reaction to a negative performance review from an employer might be to ______.
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A worker’s positive reaction to a negative performance review from an employer might be option A "ignore the criticisms made at the review." Option A seems to be the best fit for this question because option B would I consider a negative reaction because addressing the employer over the negative review could start a fight and the other two seem too irrelevant for this question.

Hope this helps.

3 0
3 years ago
Read 2 more answers
Adverse selection occurs in the market for used cars because used car buyers ______
umka2103 [35]
Have less information than used car sellers
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3 years ago
If a company incorrectly records cash received for services to be provided in the future with a debit to cash and a credit to sa
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There will be inadequate liabilities.

What Does Sales Revenue Mean?

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8 0
2 years ago
The concept of risk management is based on an assessment of benefits gained compared to the ___:
Tanzania [10]

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potential risk/threat

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5 0
3 years ago
Wilma, Betty, and Fred are partners who share income and losses in a 5:3:2 ratio. Wilma decides to retire from the partnership w
Hoochie [10]

Answer:

<u>debited</u>

Explanation:

Partnership refers to a mutual agreement wherein two or more individuals agree carry out a business and to share profits and losses in a specified ratio or as per the clauses of the partnership deed.

When partners retire, the balances standing to the credit of their capital accounts needs to be settled or paid off.

As per the given information, Wilma is paid $45000 in cash. The journal entry in this case would be:

Wilma's Capital A/C                                    Dr.  $45000

    To Cash A/C                                                                $45000

For the remaining balance, Wilma shall be paid in cash as follows,

Wilma's Capital A/C                                    Dr. $5000

     To Cash A/c                                                            $5000

(Being settlement of a retiring partner's capital account being recorded)

3 0
3 years ago
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