The inference is that the contractor will prevail because the homeowner agreed to the price increase.
<h3>What is an inference?</h3>
It should be noted that an inference simply means the conclusion that can be deduced based on the information given.
In this base, inference is that the contractor will prevail because the homeowner agreed to the price increase.
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Taxes that have wealthy people pay a higher rate of tax than average or poor people are called Progressive tax. It is the type of tax that goes on increasing with increase of income. The people with higher income pays a higher amount of tax than the people with lower income. I hope the answer has helped you.
It is a true statement that a typical written contract or agreement must contain a description of the consideration promised in order to satisfy the Statute of Frauds.
<h3>What is the
Statute of Frauds?</h3>
This refers to the legal concept that requires certain types of contracts to be executed in writing.
In the legal field, the Statute of Frauds covers contracts for the sale of land, agreements involving goods worth over $500 and contracts lasting one year or more.
Most times, the Statute of Frauds can be satisfied by any signed writing that:
- identifies the subject matter of the contract
- is sufficient to indicate that a contract exists
- states with reasonable certainty the material terms of the contract.
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Answer:
Explanation:
Calculation of total loss:
Net loss 320,000
Preferred dividend [5000*8%*100] 40,000
Total loss 360,000
Calculation of shares:
Common shares 250,000
Additional common stock [36,000*7/12] 21,000
Total shares 271,000
Loss per share = 360,000/271,000 = $1.328
