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iren2701 [21]
4 years ago
14

Nina Parkhurst owned a ranch and asked her son, Doug Boykin, to move to it and manage it for her. Boykin and his wife moved to t

he ranch and managed it for several years. they talked with Parkhurst many times, urging her to transfer 49 percent of the ranch to them. Parkhurst said she had thought and talked about possibly transferring the ranch but had made no decision. the Boykins claimed they were on the ranch under an oral contract with Parkhurst and that the oral contract also entitled them to a 49 percent interest in the ranch. she sued them and asked the court to declare that there was no contract. was there a contract?
Business
1 answer:
Black_prince [1.1K]4 years ago
5 0

Answer:

No there was no contract, there was at best an agreement to agree (an agreement based on understanding that a future arrangement can be made).

Nina said she was still thinking about her son's proposal and had not decided yet, so there was no contract.

Oral contracts is a spoken agreement between two parties that may be legally binding.

Breach of oral contract can be hard to prove since it is not written down.

An oral agreement between family members is not enough to be considered a contract.

Explanation:

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Causwell Company began 2018 with 27,000 units of inventory on hand. The cost of each unit was $5.00. During 2018 an additional 4
o-na [289]

Answer:

Causwell Company

                                         FIFO        LIFO

Cost of goods sold    $181,400   $203,000

Explanation:

Data and Calculations:   Units   Unit Cost  Weighted      FIFO       LIFO

Beginning Inventory =   27,000    $5        $135,000    $135,000   $135,000

Purchases of inventory 45,000    $5.8     $261,000   $261,000   $261,000

Goods available             72,000                $396,000  $396,000  $396,000  

Ending Inventory          (37,000)   $5.5    $203,500   $214,600    $193,000

Inventory Sold               35,000    $5.5     $192,500    $181,400  $203,000

Unit cost = $5.00

Computation of the Value of beginning inventory = $135,000 (27,000 x $5)

From the value of Inventory Sold (Cost of goods sold), determine the unit cost.  This is applied to the ending inventory units, to ascertain its value.  This value is added to the cost of goods sold, to determine the cost of goods available for sale, which is made up of the beginning inventory and purchases.  From the Cost of Goods Available for Sale subtract the beginning inventory, to obtain the purchases in amount.  Divide the value by units and you obtain the unit cost.

5 0
3 years ago
Jim recently joined the Austin Barter Club, an organization that facilitates the exchange of services between its members. This
alexdok [17]

Solution :

a). In the context, Jim received $ 275 for the car repairing services form some member from the club. In this exchange of the services, an income is been received in amount of a value of the services received ( the gross income includes receipt of the services and also the money and goods). Therefore, Jim is being taxed on an amount of $275 for the car repair services.

b). The issue in this case is whether a "credit" represents the valuable right. As the right can be redeemed for the that is property worth of $150, then under the constructive receipt,  Jim must recognize an income of $150.

c). Jim received an credit of $450 to be applied for the next year. If the credit can be redeemed or used for any future services, the taxpayer then can argue that the realization has not yet occurred. But, it has be included in Jim's gross income for the next year when his credit amount becomes the valuable right.

5 0
3 years ago
Which of the following is NOT one of the pitfalls of pursuing a differentiation strategy? a. Over-emphasizing efforts to strongl
ivolga24 [154]

Answer: Option A

Explanation: In simple words, differentiation strategy refers to the strategy in which a firm tries to develop and introduce a unique product that the customers find different from the other products offered by the competitors.

Thus, the emphasis that the company places on the differentiation works for the  benefit of the company as it gives the company an easy competitive advantage.

Hence the correct option is A.

5 0
3 years ago
What factors do you think are most important to luxury buyers?.
wolverine [178]

Explanation:

•The Value of Space. When it comes to luxury homes, it's all about space. ...

•Entertaining Excellence. ...

•Security & Convenience. ...

•Keeping Things Exclusive.

4 0
2 years ago
Sydney purchases a newly issued, two-year government bond with a principal amount of $10,000 and a coupon rate of 6% paid annual
olga55 [171]

Answer: $10095

Explanation:

First, we'll calculate the present value which will be:

= 600/(1+5%) + 600/(1+5%)² + 10000/(1+5%)²

= 600/(1+0.05) + 600/(1+0.05)² + 10000/(1+0.05)²

= 600/(1.05) + 600/1.1025 + 10000/1.1025

= 571.43 + 544.22 + 9070.30

= 10185.95

Then, we'll deduct the first coupon gotten. Thai will be:

= 10185.95 - 571.43

= 9614.52

Then, the price that Sydney will receive for his bond if newly issued will be:

= $9614.52 × (1+5%)

= $9614.52 × 1.05

= $10095

6 0
3 years ago
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