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ira [324]
3 years ago
10

If the agreement between Elijah and the Canadian buyer was never written down, could Elijah be liable to the Canadian buyer for

a breach of contract (assume the total value of the contract was over $100,000)?
A. Yes, because the CISG does not have a Statute of Frauds requirement.
B. No, because the Statute of Frauds requires all contracts for the sale of goods over $500 to be evidenced in writing to be enforceable.
C. Yes, unless the course of dealing between the parties shows that contracts were always memorialized.
D. No, because international agreements in excess of $5,000 must be written down and include material terms.
Business
1 answer:
musickatia [10]3 years ago
6 0

Answer: Yes, because the CISG does not have a Statute of Frauds requirement.

Explanation:

The CISG is an for Contracts for International Sale of Goods. The CISG is also called the Vienna Convention. The main purpose is to provide a fair, modern and uniform regime for the contract involved in the international sale of goods.

It should be noted that the CISG does not have a parol evidence or a statute of frauds. The statute of frauds means when certain kinds of contracts need to be written down and signed by the required parties as evidence.

In this case, Elijah will still be liable to the Canadian buyer for a breach of contract because the CISG does not have a Statute of Frauds requirement.

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While conducting an audit of a new nonissuer client, an auditor discovers that accounting policies applied in relation to the fi
Marat540 [252]

Answer:

A) Obtain sufficient appropriate evidence about whether changes in the accounting policies have been appropriately accounted for and adequately presented and disclosed in accordance with the applicable financial reporting framework.

Explanation:

When such things happen, the auditor must search more information regarding the accounting policies and must evaluate if the company's accountants adopted accounting policies that are legal and adjust to applicable financial reporting (e.g. GAAP in the US). The auditor must also try to determine the effects of the applied policies and if all proper disclosures have been included or not. The auditor should also try to determine why the company's accounting department did that and how do they justify it.

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3 years ago
An investment of $6,000 produces a net annual cash inflow of $2,000 for each of 5 years. What is the payback period? a.2 years b
mestny [16]

Answer:

3 years

Explanation:

The payback period measures how long it takes for the amount invested in a project to be recovered from the projects cash flows .

Number of years = Investment / cash flows

$6000 / $2000 = 3 years

I hope my answer helps you

4 0
4 years ago
A bed mart company is in the business of manufacturing beds and
vladimir1956 [14]

The maximum daily profit for the company is $860

<h3>What is an inequality</h3>

Inequality is an expression that shows the non equal comparison of two or more variables and numbers.

Let x represent the number of bed and y represent the number of pillow, hence:

4x + 2y ≤ 40    (1)

Also:

2x + 4y ≤ 32   (2)

From the graph, the solution is at:

(8, 4)

Profit = 80x + 55y = 80(8) + 55(4) = $860

The maximum daily profit for the company is $860

Find out more on inequality at: brainly.com/question/24372553

3 0
2 years ago
When Ned’s car breaks down, he asks Insta-Tow, Inc., to tow it to Jerry’s Repair Shop. There is no discussion of a price, and Ne
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Answer:

The correct answer is b. an implied contract.

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The theory of implicit contracts refers to the fact that the relationship between employers and workers is governed, in addition to the "explicit" legal contracts signed between the two, by a multitude of tacit commitments established during the understanding between the two parties. Implied contracts are unwritten agreements and informal rules that companies have with their workers, and that, in many cases, are justified in the commitment to wage stability. In this theory, companies set wages within a broad and long-term strategy or stability of the employment relationship.

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4 years ago
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Army Alpha and Army Beta Test
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