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Kryger [21]
3 years ago
13

Used Car Problems. ABC Motors sold a used car to Frank, who wrote a bad check for the car and left town but not before he sold t

he car to Betty, who paid $1,100 (a fair price for the car) believing that Frank had all rights to sell it. ABC Motors asked Frank to return the car, but he told them that he already sold it to Betty. What kind of title did Frank have?
Business
2 answers:
Nikolay [14]3 years ago
7 0

Answer:

Frank had a voidable title, since he committed fraud by paying for the car with a bad check.

Explanation:

A voidable title is a title that can be voided by the grantee (ABC Motors) but is a valid title until voided. The grantee can void the title if some irregularity occurred during the transaction, e.g. fraud by paying with a bad check.

But the title passed to Betty is a good title, since she was an innocent good faith buyer and when she purchased the car the title had not been voided.

saul85 [17]3 years ago
3 0
Answer: encumbrance title

Encumbrance is a claim against a property by a party that is not the owner.

Hopefully this helped
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A 12-month insurance policy was purchased on Dec. 1 for $4,800 and the Prepaid insurance account was initially increased for the
Marianna [84]

Answer:

Credit to Prepaid insurance for $400 and Debit to Insurance expense for $400

Explanation:

The journal entry is given below:

Insurance expense ($4800 × 1 ÷ 12) $400  

       Prepaid Insurance  $400

(To record insurance expense)

Here the insurance expense is debited as it increased the expense and credited the prepaid insurance as it decreased the assets

4 0
3 years ago
A company has beginning inventory of 10 units at a cost of $10 each on February 1. On February 3, it purchases 20 units at $12 e
Gre4nikov [31]

Answer:

b) $124

Explanation:

FIFO means first in, first out. Under this principle, goods that were purchased or produced earlier will be the first ones on sale.

The value of the goods sold in our case will be as follows.

The first ten items   @ $10: 10X10 =$100

Two items to make   [email protected] $12: 2x12=$24

 

Total cost: $100+$24= $124

7 0
3 years ago
Why do courts permit fraud to disrupt genuine agreement in a contractual setting?
WARRIOR [948]
I’m pretty sure it has something to do with trial lengths and the sort
3 0
3 years ago
The manager of a bank branch is concerned about the number of mistakes the tellers were making, so he started manipulating diffe
umka2103 [35]

Answer: Human factor research

Explanation:

From the question, we are informed that a manager of a bank branch is concerned about the number of mistakes the tellers were making, so he started manipulating different aspects of the environment in the bank to see what effect each has on the tellers' performance.

We are further told that he examined factors such as the lighting, temperature, and the volume of the music playing in the bank.

He's using the human factor research approach. Here, the capabilities of human beings are determined through strength, vision, flexibility etc.

3 0
3 years ago
dentify a true statement about sales-oriented firms. a. They target their products to specific groups of people. b. They recogni
stellarik [79]

Answer:

Correct answer is (d). They target their products at "everybody" or the "average customer."

Explanation:

Every sales-oriented firms want more customers and want to make more profit by selling to as many customers as possible, this makes them to seek and target their products to every potential buyers and other average customers available.

6 0
3 years ago
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