Better Houses, Inc. has been contracted to build an addition on the Joyners' house. It built half of the addition and then unexpectedly announced that it was not going to finish the job. Such a desertion of work is called "Abandonment of contractual obligations".
<h3>What is contractual obligations?</h3>
Contractual obligations are responsibilities that each party is bound by law to fulfill under the terms of the agreement.
Each contract involves one or both parties exchanging anything of value in connection with a variety of duties, such as goods, services, money, etc.
Elements of a Contract are-
- Offer: An offer was made when one of the parties pledged to carry out or refrain from carrying out a specific action in the future.
- Promise of consideration: A promise of something of value in return for the intended conduct or inaction. This can be demonstrated by a substantial outlay of resources, a promise to provide a service, a commitment not to do something, or reliance on the promise. The incentive for the parties to enter into the agreement is known as consideration.
- Acceptance: The offer was unmistakably accepted. Acceptance can be demonstrated through words, actions, or by carrying out the contract's requirements. In general, the terms of the acceptance must match those of the offer. If not, the acceptance is interpreted as a counteroffer and rejection.
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Answer: The answer is given below
Explanation:
a. What is the extended list price of the order?
This will be gotten by multiplying the number of cases with the price list. From the question, we are told that Whole Foods Market ordered 12 cases of organic vegetable soup with a list price of $18.90 per case and 8 cases of organic baked beans with a list price of $33.50 per case.
Organic vegetable soup:
= 12 × $18.90
= $226.80
Organic baked beans= 8 × $33.50
= $268
Total = $226.80 + $268
= $494.80
b. What is the total amount of the trade discount on this order?
We are told that the wholesaler offered Whole Foods a 39% trade discount. This will be:
= 39% × $494.80
= 39/100 × $494.80
= 0.39 × $494.80
= $192.972
c. What is the total net amount Whole Foods owes the wholesaler for the order?
The total net amount will be the total price of the order and the discount. This will be:
= $494.80 - $192.972
= $301.828
Answer:
However, the economy has been characterised by a structural shift in output over the past four decades.
Since the early 1990s, economic growth has been driven mainly by the tertiary sector – which includes wholesale and retail trade, tourism and communications. Now South Africa is moving towards becoming a knowledge-based economy, with a greater focus on technology, e-commerce and financial and other services.
Among the key sectors that contribute to the gross domestic product and keep the economic engine running are manufacturing, retail, financial services, communications, mining, agriculture and tourism.
Explanation:
South Africa’s economy has traditionally been in the primary sectors – the result of a wealth of mineral resources and favourable agricultural conditions.
Answer:
Consumers help determine what goods and services will be produced through their purchasing decisions. I think :)
Explanation:
