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Elan Coil [88]
4 years ago
11

Should the law allow someone that becomes voluntarily incapacitated through intoxication or other means escape from a contractua

l obligation using incapacity as a defense? does it matter if the other party to the contract knew or clearly should have known that the other party is or has become incapacitated?
Business
1 answer:
Svetach [21]4 years ago
6 0
1. The law does not allow a person who becomes involuntarily incapacitated to escape his contractual responsibilities, they must be fulfilled unless it is proven that the disability does not permit full compliance under any circumstances.2. The statutory statutes of contractual responsibilities take into account whether a person is incapacitated or not. At the time of compliance with these statutes, the parties concerned must be aware of any inconvenience.If the disability arises after a contract has been signed, there are laws that govern according to the type of contract, the facts under which there are conflicts and the type of disability that exists, as well as the time it originated and its causes.
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Answer:

Explanation:

a.

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Finished Goods inventory (in unit) :

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Selling price per unit = $52,500/14000 = $3.75

d.Compute the operating profit (loss) for year 1

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Revenues  $52,500

Cost of goods sold (14000*$2)  (28000 )

-----------------------------------------------------------------

Gross Margin                          $24,500

Less marketing and administrative cost:  

Variable cost ($2,350)  

Fixed cost ($11,800)

-----------------------------------------

                                                  ($14,150)

Operating Profit  $10,350

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