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Allushta [10]
3 years ago
14

Baine lived in Bristol Harbor, a resort area on the Atlantic coast. She entered into a written agreement to sell her daily catch

of fresh lobster at an agreed price to a local restaurant during the tourist season. At the end of the tourist season, Bain sued the restaurant for an additional $2,000. She claimed that shortly before signing the contract, the restaurant owner orally agreed to pay a $2,000 bonus. Using the IRAC method, discuss whether Bain will prevail.
Business
1 answer:
morpeh [17]3 years ago
5 0

<u>Solution and Explanation:</u>

A court assumes that the written cntarct is the begining and the end of all the terms of the agreement and will not acept the parol evidence if it changes the meaning of the terms of contract.

Parol evidence should only be used to determine the inetntions of the parties at the time the contract was made, not after the fact.

Valid contract: The elemenst of  valid contract must be seen.

Since Mrs B signed a contract with the specific terms that did not include a bonus, a court would not consider an oral agreement based on completing a yet to be written contract under the parol evidence rule.

hence, Mrs B cannot introduce the oral agreement under the parol evidence rule.

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Answer:

A) discrete random variable.

Explanation:

Discrete random variables can assume only a finite number of values, and their combined total probabilities must equal 1.

On the other hand, continuous random variables can take any value with an interval or collection of intervals, which means that the possible values are infinite.

A complex random variable is a combination of two real random variables that have rel and imaginary parts.

8 0
2 years ago
Western Inc. purchases a machine for $70,000. This machine qualifies as a five-year recovery asset under MACRS with the fixed de
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Western Inc. purchases a machine for $70,000. This machine qualifies as a five-year recovery asset under MACRS with the fixed depreciation percentages- <u>the cash flow from disposal is $46720</u>

Explanation:

Given that  the four-year sale is at $50,000.

we know that the book value of the machine must be established in order to determine if a gain or loss has been incurred at disposal.

The depreciation schedule for the $70,000 machine is: given as

Year 1: $70,000 &times; 0.2000 = $14,000

Year 2: $70,000 &times; 0.3200 = $22,400

<u>Accumulated Depreciation </u>= $14,000 + $22,400 = $36,400

<u>Book Value of machine </u>= $70,000 - $36,400 = $33,600

<u>Gain on disposal is</u> $50,000 - $33,600 = $16,400

Tax on Gain = Gain on disposal &times; Tax rate = $16,400 &

times; 0.20 = 20% of $16,400=20/100*16400=3,280

<u>After-Tax Cash Flow at disposal</u> = $50,000 - $3,280 = $46,720

8 0
3 years ago
List three pieces of information listed in a credit card agreement that you believe are important to review before
andrew-mc [135]
I have the same question
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2 years ago
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In a free market, how might Italian restaurants react to a shortage of pizza?
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2 years ago
Marlin Corporation reported pretax book income of $1,003,000. During the current year, the net reserve for warranties increased
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Answer:

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In order to find income tax expense or benefit, multiply the taxable amount by tax rate.

7 0
3 years ago
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