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Sholpan [36]
2 years ago
6

The UCC permits terms to be added into a contract or filled in as gap fillers; however, a contract between merchants cannot be e

nforced unless the parties have agreed to and specified a price in their agreement.
True/False
Business
2 answers:
podryga [215]2 years ago
6 0

Answer: The answer is true

Explanation: the contract can not be enforce until both merchant agrees on a specified price on their agreement

The element of common law includes offer,acceptance and consideration. For the contract to be binding and legal both parties must have the capacity of entering into the contract. The contract of common law will be void if all element of common law formation do not exit.

Bess [88]2 years ago
6 0

Answer:

True

Explanation:

The UCC permits terms to be added into a contract, but for a contract to be binding and enforceable in the court of law both parties involved in the contract have to fulfill the elements of common law which prescribes that a contract has to be read , understood and agreed on by both parties and this includes specifying and agreeing to a price which will be written in the agreement.

Common laws are laws drawn from previous judgement made by a judge on a similar case they are not explicitly written or included in the constitution by the Judiciary

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Your firm is considering opening a branch office in Kyle. The office would cost $485,000 to build the office. During the office
wariber [46]

Answer:

The NPV from opening the branch office is negative ( -$106668.08). Thus the branch office should not be opened.

Explanation:

The decision to open the branch office will be taken based on the NPV provided by opening of the branch office. If the NPV of a project is positive based on the required rate of return used as a discount rate fro cash flows, the investment is worth undertaking.

The net present value (NPV) for a project can be calculated as,

NPV = CF1 / (1+r)  + CF2 / (1+r)²  + ...  + CFn / (1+r)^n  -  Initial Outlay

Where,

  • r is the appropriate discount rate
  • Initial Outlay is the Initial cost of the project
  • CF represents cash flows from the project

As the required return is 16%, we will take this as the appropriate discount rate.

NPV = 45000 / (1+0.16)  +  120000 / (1+0.16)²  +  150000 / (1+0.16)³  +

150000 / (1+0.16)^4  +  150000 / (1+0.16)^5  -  485000

NPV = - $106668.08

As the NPV from project is negative at a required return of 16%, the project should not be under taken and the branch office should not be open.

7 0
3 years ago
In California, Arthur wants to personally place business with RTS Insurance Company who is a nonadmitted carrier. The only way A
Cloud [144]

Answer

Professional ethics and code of conduct regulation

Explanation:

California Professional code of conduct for insurance agent does not permit unethical placement, as the regulator view such as fraudulent practices.

7 0
3 years ago
On November 1, 2018, New Morning Bakery signed a $195,000, 6%, six-month note payable with the amount borrowed plus accrued inte
Blizzard [7]

Answer:

total cash pay is $200850

Explanation:

given data

Bakery signed P = $195000

rate R = 6 %

time T = 6 month

to find out

cash amount will be needed to pay back with interest

solution

we find first interest for 6 month that is 6/12 year

so interest = P×R×T

interest = 195000×0.06×6/12

interest = $5850

so total amount pay = Principal  + Interest

total amount pay =195000  + 5850

total cash pay = $200850

5 0
2 years ago
Does GAAP routinely require companies to disclosure forecasts of financial variables to external users? Indicate yes or no and e
Andrei [34K]

Answer:

No, they don´t.

Explanation:

Forecast is not required by GAAP, as the <u>Relevance</u> and the <u>Faithful</u> <u>Representation</u> are concepts that are not compatible with data projection.  Forecast implies estimates, and subjective interpretations that do not fulfill financial statements aim and are difficult to verify.

4 0
3 years ago
A bank has total interest income of $62.736 million and total noninterest income of $10.077 million. This bank has total interes
nikitadnepr [17]

Answer:

-$15.347

Explanation:

Calculation for What is this bank's net noninterest income

Using this formula

Net noninterest income=Total noninterest income+(Total noninterest expenses+Loan losses)

Let plug in the formula

Net noninterest income=$10.077-($23.858+$1.566,)

Net noninterest income=$10.077-$25.424

Net noninterest income=-$15.347

Therefore the bank's net noninterest income will be -$15.347

5 0
2 years ago
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