Answer:
C. <u>not valid because performance depends on Parsley's personal skills</u>
Explanation:
A valid contract refers to an agreement entered into by parties which legally binds both parties and is enforceable under the law.
For a contract to be termed as valid, it must be performed by the parties to it.
Performance clause in a valid contract refers to doing or acting in a way as is required by the terms of the contract.
In the given case, Parsley signed a contract to provide services i.e provide French cooking lessons to Curry. Later, Parsley wants to transfer his duties to Relish.
The transfer will not be valid since the performance i.e service to be provided by Parsley are of personal nature and the consideration is based upon that. No two individuals can provide exact services.
Answer:
$235,000
Explanation:
A company can capitalize the cost of assets, delivery cost, legal & documentation charge and any other directly attributable cost that is incurred to bring the asset in the condition as intended by management.
Therefore, cost of asset, title fee and building modification fee shall be added in the cost of asset as follows:
Cost of Asset 200,000
Lawyer and title fee 20,000
Building Accommodation <u> 15,000</u>
Total <u>235,000</u>
Answer: Option (d) is correct.
Explanation:
Amount paid for candy = $1,500
Items received = 8,500 pieces of candy
Group 1 = 2,500 pieces
Selling price = $0.15 each
sale value = pieces sold × Selling price
= 2,500 × $0.15 each
= $375
Group 2 = 5,500 pieces
Selling price = $0.36 each
sale value = pieces sold × Selling price
= 5,500 × $0.36 each
= $1,980
Group 3 = 500 pieces
Selling price = $0.72 each
sale value = pieces sold × Selling price
= 500 × $0.72 each
= $360
Total sale value = $375 + $1,980 + $360
= $2,715


= 72.92%
Proportion of cost for Group 2 = cost × Percentage of sale in Group 2
= $1,500 × 72.92%
= $1,093.8


= $0.1988
= $0.20(approx)
A. Commercial banks lend mi way to consumers in the form of car loans, mortgages and personal loans. The money distributed for these loans comes from deposits of other bank customers.