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Tanzania [10]
3 years ago
13

Arthur Rabe is suing Xavier Sanchez for breaching a contract in which Sanchez promised to sell Rabe a Van Gogh painting for $150

,000.
Required:
a. In this lawsuit, who is the plaintiff, and who is the defendant?
b. If Rabe wants Sanchez to perform the contract as promised, what remedy should Rabe seek?
c. Suppose that Rabe wants to cancel the contract because Sanchez fraudulently misrepresented the painting as an original Van Gogh when in fact it is a copy. In this situation, what remedy should Rabe seek?
d. Will the remedy Rabe seeks in either situation be a remedy at law or a remedy in equity?
e. Suppose that the court finds in Rabe's favor and grants one of these remedies. Sanchez then appeals the decision to a higher court. Read through the subsection entitled "Appellants and Appellees" in the appendix following this chap-ter. On appeal, which party in the Rabe-Sanchez case will be the appellant (or petitioner), and which party will be the appellee (or respondent)?
Business
1 answer:
OLEGan [10]3 years ago
7 0

Answer:

Remedies

a. The suing party is called the plaintiff. The party being sued is the defendant. Therefore, since Arthur Rabe wants to sue Xavier Sanchez. Rabe is the Plainttiff and Sanchez is the Defendant.

b. If Rabe wants Sanchez to perform the agreement as promised, Rabe would seek remedy of Specific performance of Contract from the Court. Failure to do so will attract charges.

c. If Rabe wants the contract to be cancelled, then Rabe would ask the court for a rescission which is the cancellation of a contractual obligation.

d. The term remedies refers to a legal means to enforce a right or redress a wrong. Remedies of law include land, items of value or money. Remedies in equity includes specific performance, injunction and rescission. Thus, both remedies in part b and c are remedies in equity.

e. The party appealing a case is called the appellant or petitioner while the appellee is the party against whom the appeal is taken. So Sanchez would be the appellant and Rabe would be the respondent.

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Answer:

d) relative to others instead of against performance standards.

Explanation:

Contrast error is one that occurs during performance rating where a person is not rated objectively, but against previous people who performed good or badly.

The person's ratings is affected negatively or positively.

A person that performs well subconsciously sets a benchmark in the mind of the rater, and he now rates future participants based on this benchmark and not on performance standards that have been set.

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3 years ago
A project requires the purchase of $587,000 of equipment that will be depreciated straight-line to a zero book value over the fo
AlekseyPX

Answer:

The cash inflows in Year 2 is: $6,750

The present value of the project in Year 2 is: $5,286 (ignored the depreciation)

The Net Present Value in Year 2 is: $-642,112 (required return rate is 13%)

Explanation: <em><u>(See the attached table also)</u></em>

1. Initial investment: $587,000

2. Year 1:

- Sales: $625,000

- Cash expense: $487,000

- Money to support project: $625,000 x 12% = $75,000

- Tax to pay: $625,000 x 21% = $131,250

=> Cash inflow in Year 1:

            625,000 - 487,000- 75,000 - 131,250 = - 68,250

Present value: -68,250 : (1+0.13) = -60,398

NPV: -60,398 - 587,000 = - 647,398

Year 2:

- Capital from year 1: $75,000

- Sales: $625,000

- Cash expense: $487,000

- Money to support project: $625,000 x 12% = $75,000

- Tax to pay: $625,000 x 21% = $131,250

=> Cash inflow in Year 2:

      75,000 + 625,000 - 487,000- 75,000 - 131,250 = 6,750

Present value: 6,750 : [(1+0.13)^2] = 5,286

NPV year 2 = NPV Year 1 + PV Year 2 = -647,398 + 5,286 = -641, 112

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Answer: Problem Solving Team

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problem solving has 5 steps ate they are:

1. identify the problem

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3.  evaluate and pick a solution

4. Implement solution

5. follow up

According to the question above, the group of employees formed to take quick action on the problem of Granitia Inc is called the problem solving group

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The final stage in the personal selling process is referred to as
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