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1 year ago

What is a worrisome consequence under the joint and several liability principle?

1 answer:

7 0

Each culpable party is responsible for its proportionate share of the damages. Damages are always the responsibility of all negligent parties.

What is joint and several liability?

Each party is individually liable for the entire extent of the damages caused by the tortious act when two or more people become jointly and severally responsible for that though.
As a result, if a plaintiff obtains a monetary judgment against all of the parties, they may each be held liable for the full amount of the verdict.
The other wrongdoers may then be asked to contribute to that party. The law of undivided injury is the name given to the idea of picking the defendant(s) against whom to seek damages.

The worrisome consequences are as previously mentioned, joint and several liability usually works in the plaintiff's favor because it raises the likelihood that every one of the damages granted will be recouped.

In contrast hand, it can be thought unjust for a party to suffer a disproportionate financial loss as a result of an unpleasant incident for which it had only a tiny responsibility.

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Manufacturers use wholesalers and retailers becauseA. they have no other choice.B. they do not cost much.C. they create value fo

KiRa [710]

Answer: Option C

Explanation: Manufacturers refers to the entity producing a good while wholesaler are the second in supply chain who procures the product from manufacturer in bulk.

The retailer is the entity that deals with the final consumer in the market. The retailer creates value to the customer by making the product available in small distance, and in timely manner.

Thus, the retailer is sued by manufacturer and wholesaler as they create value to the customer.

4 0

4 years ago

in a period of rising prices, the inventory method which tends to give the highest cost of goods sold value is

aliya0001 [1]

Answer:

First In, First Out (FIFO).

Explanation:

FIFO is an acronym for "First In, First Out" and it assumes oldest unit of inventory is sold first, meaning goods that were first added to inventory are the first goods removed from inventory for sale and are recorded as sold first.

FIFO can be defined as an accounting methods used in managing costs related to inventory, stock repurchases at different times and financial activities associated with monetary costs a company had tied up within inventory of feedstocks, raw materials, produced goods, and equipment parts.

Simply stated, FIFO is an accounting methods used for the valuation of the cost of goods sold and ending inventory of a company.

In a period of rising prices, the inventory method which tends to give the highest cost of goods sold value is First In, First Out (FIFO). This is because the more recent costs represent the higher (rising) net income and a higher (rising) inventory valuation costs.

4 0

3 years ago

Setrakian Industries needs to raise $87.9 million to fund a new project. The company will sell bonds that have a coupon rate of

Goryan [66]

Answer:

47,884.79 units of bonds

Explanation:

The units to be sold to arise $87.9 million will be equal to the

$87.9 million / divided by the bond price

The price of a bond is the present value (PV) of the future cash inflows expected from the bond discounted using the yield to maturity. These cash flows include interest payment and redemption value

The price of the bond can be calculated as follows:

Step 1

PV of interest payment

Semi-annual coupon rate = 5.92/2 = 2.96%

Interest payment =2.96%× 2,000= 59.2

Semi annual yield = 6.67%/2 = 3.335

PV of interest payment

= A ×(1- (1+r)^(-n))/r

= 59.2× (1-(1.03335)^(-2×20))/0.03335)

= 1,297.22

Step 2

PV of redemption value

PV = FV× (1+r)^(-n)

= 2,000 × (1+0.03335)^(-2× 20)

= 538.43

Step 3

Price of bond =

= 1297.22 + 538.43

= $1835.65

Step 4

Units to be used

= $87.9 million/ $1,835.65

= 47,884.79 units

4 0

4 years ago

Read 2 more answers

Joe Levi bought a home in Arlington, Texas, for $147,000. He put down 25% and obtained a mortgage for 30 years at 8.00%. What is

Leni [432]

Answer:

53,367

Explanation:

The first thing we do is to substract the down payment from the initial amount, because this payment is not part of the mortgage.

147,000 x 25% = 36,750

147,000 - 36,750 = 110,250

Next, to find the financed amount we use the present value of an annuity formula:

PV = X [(1 - (1 + i)^-n) / i ]

Where:

PV = Present value, in this case, the initial financed amount of $110,250
X = Value of the annuity payments.
i = Interest rate
n = number of compounding periods

For the 8% interest rate we have:

110,250 = X [(1 - (1 + 0.08)^-30) / 0.08]

110,250 = X [11.26]

110,250 / 11.26 = X

9,791.3 = X

Now we multiply this value by 30 to obtain the total amount paid

9,791.3 * 30 = 293,739

The total interest cost under then 8% interest rate is the total amound paid minus the initial amount:

Total interest cost = 293,739 - 110,250

= 183,489

We do the same for the 6% interest rate:

110,250 = X [(1-(1 + 0.06)^-30) / 0.06]

110,250 = X [13.76]

110,250 / 13.76 = X

8,012.4 = X

8,012.4 * 30 = 240,372

Total interest cost = 240,372 - 110,250

= 130,122

Difference in interest cost = 183,489 - 130,122

= 53,367

4 0

3 years ago

Although Rhode Island used the most paper money to deal with its financial problems, __________ refused to accept this type of c

MariettaO [177]

Although Rhode Island used the most paper money to deal with its financial problems, merchants refused to accept this currency and had to pay steep fines for doing so.

<h3>What are merchants?</h3>

Merchants are people and/or institutions aimed at commercializing goods or services.

Merchants need to have paper money of legal use to make transactions during commerce activities.

In conclusion, although Rhode Island used the most paper money to deal with its financial problems, merchants refused to accept this currency.

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5 0

2 years ago