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leonid [27]
3 years ago
10

David Wallace was the president, chairman of the board of directors, and majority shareholder of Paper Imports, Inc. Acting as p

resident, David Wallace negotiated a series of contracts that caused the corporation serious economic losses. As president, David Wallace failed to exercise the care of a reasonably prudent person acting in similar circumstances.When substantial economic losses began to pile up, David Wallace insisted that the corporation breach a contract with Dunder Company in favor of a larger contract with Mifflin Enterprises. David Wallace hoped to reverse Paper Imports, Inc. economic decline through this contract with Mifflin, but the attempt failed. Paper Imports, Inc. insolvent and failed.There were two lawsuits against David Wallace, (1) a creditor of Paper Imports, Inc. sued David Wallace alleging that the negligence of David Wallace had caused Paper Imports Inc. to fail to pay the creditor, and (2) Dunder Company sued David Wallace claiming that David Wallace caused Paper Imports, Inc. to breach its contract with Dunder.Who would win in each of these lawsuits?
Business
1 answer:
Paladinen [302]3 years ago
8 0

Answer:

The answers to the two questions are detailed in the explanation;

Explanation:

1.In this first case, David Wallace may possibly win, since a single creditor as a witness that due to the negligence of the director of the company did not receive his payment is not enough evidence for a lawsuit.

There should be more creditors who are dissatisfied with this situation, and it must also be analyzed what were the real causes that led to the company not having made the corresponding payment to this creditor.

2.In this second situation, the company Dunder Company may possibly win, since the corporation breached a previously established contract, this establishes the basis for a lawsuit in which Papers Import must possibly comply with the provisions of the contract or compensate the damages caused to the Dunder Company.

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The increases and decreases caused by business trasactions are recorded in specific accounts. tru or false
Likurg_2 [28]
The answer is true.
8 0
3 years ago
Halverstein Company's outstanding stock consists of 9,450 shares of cumulative 5% preferred stock with a $10 par value and 4,050
Vsevolod [243]

Answer:

e. $6,000 preferred; $0 common.

Explanation:

The Preference Stock holders hold first preference during payment of dividends followed by the Common Stockholders.

Note also that Cumulative Preference Stock can have their dividends accumulated and paid in the latter years when funds become available.

Amount of Preference Stock dividend is fixed and calculated as follows:

9,450 shares × $10 × 5% = $ 4,725

2015

Cash dividends                                  = $0

Preference Stock dividend Paid      = $0

Preference Stock dividend Arrears = $ 4,725

No Common Stock Dividend

2016

Cash dividends                                  = $6,000

Preference Stock dividend Paid      = $6,000

Preference Stock dividend Arrears = $ 3,450

No Common Stock Dividend

4 0
3 years ago
Which of the following is NOT part of the simple circular flow model?
hjlf

Answer:

<u>The correct answer is B. Government</u>

Explanation:

There is no doubt that the simple circular flow model explains supply and demand in an elemental economic perspective, however this model doesn’t take into account at least five other key factors of the economic systems.  Those factors are:  

1. Government sector.

2. Government spending.

3. The taxation system.

4. The financial institutions.

5. Imports and exports.

<u>The correct answer is B. Government.</u>

4 0
3 years ago
XYZ Zippers, Inc. wants to develop a new sales system that account executives can access over the Internet with a back-end custo
DanielleElmas [232]

Answer:

A programmer, a web designer, and a data analyst.

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The programmer creates the sales system application. He will integrate key functionalities in the new software that will meet the companie's unique need.

The we designer will create a website that will give easy access to the newly developed sales system application. This will also involve content creation and user interface creation.

Data analyst will be in charge of managing client's data. Making sure data is secure and in a form that can be easily accessed and used.

5 0
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How do investment bankers generate revenues for their firms?
Lesechka [4]
The answer is C they but at a discount, the entire issues of new security....
3 0
3 years ago
Read 2 more answers
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