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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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For many years, college costs (including tuition, fees, and room and board) increases have been higher than the inflation rate,
arsen [322]

Answer: $23,888

Explanation:

The cost today for a freshman at a public university is $19,500.

Inflation is at 7% a year and the period is 3 years from now. It is best to use a future value formula:

= Fees * ( 1 + rate) ^ number of years

= 19,500 * ( 1 + 7%)³

= 19,500 * 1.225043

= $23,888

3 0
3 years ago
A tour group split into two groups when waiting in line for food at a fast food counter. The first group bought 8 slices of pizz
creativ13 [48]

Answer:

The cost of an slice of pizza is $3.94

Explanation:

Hi, we have to construct 2 equations with the information of the problem, the first one is " 8 slices of pizza and 7 soft drinks for $45.10".

8P+7D=45.10

And the second one, when "The second group bought 6 slices of pizza and 5 soft drinks for $33.34" is.

6P+5D=33.34

Where: P = pizza slices and D= soft drinks

We need to substract one equation from the other, but firs we need to equal one of the variables. In order to do so, we multiply our first equation by 5 and the second one for 7, therefore we get.

First equation

40P+35D=225.5

And the second one:

42P+35D=233.38

And now, we substract them and solve.

40P+35D-(42P+35D)=225.5-233.38

40P-42P+35D-35D=-7.88

-2P=-7.88

P=\frac{-7.88}{-2} =3.94

The cost of a slide of pizza is $3.94

In case you needed to find the cost of the soft drink, we just substitute P for 3.94 in any of the initial equations, that is:

8(3.94)+7D=45.1

7D=13.58

D=1.94

The cost of a soft drink is $1.94

Best of luck.

7 0
3 years ago
What was the earliest franchise of indoor cycling classes called?.
FinnZ [79.3K]

The earliest franchise of indoor cycling classes called Spinning

<h3>Spinning</h3>

  • Spinning is a brand of indoor bicycles and indoor cycling instruction classes distributed and licensed by the American health and fitness company Mad Dogg Athletics.

In conclusion, we can conclude that the correct answer is spinning.

learn more about spinning from here: brainly.com/question/339581

5 0
2 years ago
Open a general journal for the City of Monroe Community Foundation Trust Fund and record the following transactions for the year
ICE Princess25 [194]

Answer:

The beginning part of the question is found below:

The City of Monroe Scholarship Foundation private-purpose trust fund had the following account balances on January 1, 2017:

                                                     Debits                                  Credits

Cash                                             $49,500

Accrued Interest Receivable       $7,500

Investments in Corporate Bonds $750,000

Net Assets Held in Trust                                                      $807,000

Totals                                            $ 807,000                       $ 807,000

Find below the necessary journal entries in the explanation section:

Explanation:

The interest received =6%*$750,000*6/12=$22,500

Dr Cash            $22,500

Cr Interest income(balance)       $15,000          

Cr Accrued interest receivable   $7,500

Additional funds of $205,500 received:

Dr Cash                  $205,500

Cr donation income                $205,500

the investment of $200,000 in corporation stock

Dr investment in corporation stocks  $200,000

Cr Cash                                                                  $200,000

receipt of half of the year annual interest on bonds(as calculated above at $22,500)

Dr cash    $22,500

Cr Interest income   $22,500

cash is debited when there is an inflow and credited in case of outflows

The investment account is debited because it is an asset

8 0
3 years ago
A 13-year, 6 percent coupon bond pays interest semiannually. The bond has a face value of $1,000. What is the percentage change
Ierofanga [76]

Answer:

b. −1.79 percent

Explanation:

You can solve this using a financial calculator. I'm using TI BA II plus ;

First, find Price of the bond if YTM = 5.5%. Since it is semi-annual, adjust the YTM  and total duration;

N = 13*2 = 26

I/Y = 5.5%/2 = 2.75%

PMT = (6%/2)*1000 = 30

FV = 1,000

CPT PV = $1046.01

Next, find Price of the bond if YTM = 5.7%.

N = 13*2 = 26

I/Y = 5.7%/2 = 2.85%

PMT = (6%/2)*1000 = 30

FV = 1,000

CPT PV = $1027.28

Percentage change =[ (New price- Old price)/Old price] *100

=\frac{1027.28-1046.01}{1046.01} *100\\ \\ = -0.017906 *100

= -1.79%

6 0
3 years ago
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