Answer: The Contract is valid.
Explanation:
Under the UCC’s Statute of Frauds, transactions above $500 for goods cannot be made orally alone and have to be written in writing as well. This is the law that Rosenfield relied on.
However, Fallsview can argue that the Passover Retreat is not a Good, but rather a Service in which case it does not fall under the Statute.
The main bone of contention thereby becomes, if indeed it is a service or a good.
If it is a Hybrid of both, then the Court needs to decide if the services outweigh the goods involved.
From the text we see that the following were included in the package, food, entertainment, and lectures on religious subjects.
Food is the only good there and is outweighed by Entertainment and lectures on religious subjects.
As such, the contract is valid as it is for more service than good.
Answer:
$C$8
Explanation:
The Symbol $ means that by copying and pasting to another cell, the cell references will not change.
In this case, the references are "locked" onto column C. Copying the formula to some other location will not change the references since they are absolute.
The use of intermediaries is the primary difference between the two.
Explanation:
Direct distribution channel is one in which the consumer is directly connected to the manufacturer and there is no use of a distribution system that is separate from them and there are no intermediaries.
The contact between the two is direct.
To the contrary in an indirect distribution channel there is no direct connection between the manufacturer and the person who is actually buying the product and the business is being mediated by the middlemen.
True because if you don’t have those things you won’t have a stable finance situation and if something goes wrong you will be in a pickle.
Answer:
Dr Interest expense -$21,720
Cr interest Payable - $21,720
Explanation:
Interest
Since it is a short-time loan (3-month), the interest rate will be prorated to 3-month.
Interest expense = $362,000 × .06 × 3/12 = $21,720
Hence, following entries will be recorded :
Dr Interest expense -$21,720
Cr interest Payable - $21,720
For Principal amount Borrowed:
Cr Loan payable $362000
Dr. Bank Account $362000
Upon Settlement :
Dr. Interest Payable $21,720 and Cr Bank Account $21,720
Dr. Loan payable $362000 and Cr Bank Account $362000
