According to the Uniform Commercial Code's interpretation of an open quantity term, if the quantity term is left open in a contract for the sale of goods courts generally have no basis for determining a remedy.
<h3>What do you mean by Uniform Commercial Code?</h3>
The uniform Commercial code states that a sale consists of the passing of title from the seller to the buyer for a price.
According to the Uniform Commercial code's interpretation of an open quantity term, if the quantity term is left open in a contract for the sale of goods, courts have no basis for the determination of remedy.
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Answer:
Company 1 = $2 per share
Company 2 = $2.50 per share
Explanation:
Given that,
EBIT for both companies = $1,000
Number of shares outstanding for company 1 = 500
Number of shares outstanding for company 2 = 300
Interest paid by company 2 = $250
EPS for company 1:
= (Total income - Preferred dividend) ÷ Shares outstanding
= ($1,000 - $0) ÷ 500
= $2 per share
EPS for company 2:
= (Total income - Preferred dividend) ÷ Shares outstanding
= ($1,000 - $250) ÷ 300
= $750 ÷ 300
= $2.50 per share
Answer:
Self Employed is the person working in a self owned business. Sole Proprietor is a person solely owning, managing a business.
Explanation:
Self Employment is the term used to depict <u>economic activity</u> of working for self owned organisation, rather than working for someone else. The self owned organisation could be entirely (solely) self owned - sole proprietorship, or co-owned by partners in a limited liability partnership
Sole Proprietor is a business entity owned, managed, run by a single entrepreneur. It is a business legal term given to an <u>economic organisation. </u>In this case, the proprietor necessarily has unlimited liability towards firm's claims. However, its not so always in case of self employment in LLC
If people refused to use banks to create checkable deposits, the banking system would not be able to create new money.
Checkable deposits include all accounts on which checks can be drawn. These deposits allow the owner of bank account to write checks to third parties. Also, they are very liquid assets that allow depositors to have an easy access to their funds.
For these reason, checkable deposits generally are important but also one of the lowest-cost source of bank funds, covering a large share of bank liabilities. Thus, banks create money by lending excess reserves to consumers and businesses.
Hence, if people refused to use banks to create checkable deposits, the money multiplier decreases.
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Answer:
The agreement among the Jane and bank personally is the Guaranty
Explanation:
As Jane want to take a loan of $50 from bank in order to purchase a building but bank is worried regarding the financial health of the company so in order to grant the loan or mortgage, both bank and Jane entered into an agreement which states that the Jane would be personally liable for the payment if company defaults. So, the agreement in which they agreed is the guaranty given by Jane to bank.
