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3 years ago

When one party anticipatorily repudiates a contract, what two options does the nonbreaching party have?

2 answers:

7 0

Anticipatory breach of a contract occurs when one party lets the other party know that performance will not occur.

When one party anticipatorily repudiates a contract, the options that the nonbreaching party have include:

Cancel the contract
Sue for compensatory damages
Use the doctrine of anticipatory repudiation

Anastasy [175]3 years ago

5 0

When one party anticipatory repudiates a contract, the options that the non-breaching party has:

• Bring suit for repudiation and compensatory damages.

• Canceled out their own duties from the contract.

Further Explanation:

Anticipatory repudiation: It is known as an anticipatory breach. It occurs when two parties who have entered into a contract for performance at the future date and one party make it known to the other party expressly or by conduct that the conditions of the contract will not be met. An example of anticipatory when the breaching party states that they are stopping production of an ordered item or refuse to accept payment. In such a case the remedies that are available to the non-breaking party are:

• Bring suit for repudiation and compensatory damages.

• Bring suit for repudiation and have the breaching party perform their duties as stated in the contract.

• responsibilities out their own duties from the contract.

The party who has not breached the contract has to choice whether to bring suit for performance and agreement to continue the contract.

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Answer details:

Grade: High School

Subject: Business Law

Chapter: Contract Act

Keywords: When one party anticipatory repudiates a contract, two options that the breached the party has, contract act.

Read more about Price indexes

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7 0

2 years ago

The state tax Patrick must pay on the initial profit is . The federal tax he must pay on the initial profit is . The inflation o

guapka [62]

Answer:

The state tax Patrick must pay on the initial profit is $350. The federal tax he must pay on the initial profit is $1750. The inflation on the amount remaining after taxes is $147. As a result, the real value of Patrick’s profit is $4678

Explanation:

Patrick has successfully invested in a growing tech company. Three years ago he invested $10,000 in the company through a broker. Now he has decided to sell his stock. The value of his stock is now at $17,000. Here are the taxes and fees associated with his investment: Annual brokerage fee: $25 State tax: 5% of profit Federal tax: 25% of profit Inflation rate: 1% per year The state tax Patrick must pay on the initial profit is . The federal tax he must pay on the initial profit is . The inflation on the amount remaining after taxes is . As a result, the real value of Patrick’s profit is .

Answer:

Patrick invested $10000 and after three years the value of his stock is $17000.

Profit = Value of stock - Amount invested = $17000 - $10000 = $7000

Total brokerage fee = Annual brokerage fee × number of years = $25 × 3 = $75

State tax = 5% of profit = 5% of $7000 = 0.05 × $7000 = $350

Federal tax = 25% of profit = 25% of $7000 = 0.25 × $7000 = $1750

Profit after tax = $7000 - $350 - $1750 = $4900

Inflation on the amount remaining after taxes = 1% of profit after tax × number of years = 3 years × (0.01 × $4900) = 3 × $49 = $147

Therefore the real value of profit = Profit - Total brokerage fee - state tax - federal tax - inflation = $7000 - $75 - $350 - $1750 - $147 = $4678

5 0

4 years ago

Read 2 more answers

What characteristics would make an encryption absolutely unbreakable? what characteristics would make an encryption impractical

ad-work [718]

There's no such things as an unbreakable encryption. If an encryption is devised, it will eventually be broken/decrypted. However, there are certain measures or characteristics that can be put in place to prolong decryption like using a one-time pad encryption. This means the key is used only once; using a key once is a pretty good idea since a strong algorithm will be of no use when the key becomes known. This characteristics ensures that a new key is required for decryption on successive attempt. You could also consider adding a long sequence of characters or adding an extra layer of security by upgrading to 256 or 512 bit encryption, also use salting and multiple algorithms.

6 0

3 years ago

Sandhill Company reports the following financial information before adjustments. Dr. Cr. Accounts Receivable $132,500 Allowance

goldfiish [28.3K]

Answer:

S/n Accounts title Debit Credit

a. Bad Debt expenses $2,655

Allowance for Doubtful debts $2,655

((132,500*5%)-3,970)

(Being bad debt expense recorded)

b. Bad Debt expenses $8,255

Allowance for Doubtful debts $8,255

{(132,500*5%)+1,630]

(Being bad debt expense recorded)

5 0

3 years ago

When both supply and demand decrease, the equilibrium price: a. increases and equilibrium quantity increases. b. is indeterminat

frosja888 [35]

Answer:

The answer is e.

Explanation:

First you draw a supply and demand graph. When you move to the left on the graph, you decrease and when you move to the right, you increase. Being that both supply and demand will decrease, you will end up in the left triangle of the original graph. In that area, you can't really decide the price because it's not clear if it increases or decreases. It is clear that the quantity decreases. So (e) is the answer.

5 0

4 years ago