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Kay [80]
3 years ago
14

Kendall Gardner agreed to buy a specially built shaving mill from B&C Shavings. He planned to use the mill to produce wood s

havings for poultry processors. B&C faxed an invoice to Gardner reflecting a purchase price of $86,200, with a 30 percent down payment and the "balance due before shipment." Gardner paid the down payment. B&C finished the mill and wrote Gardner a letter telling him to "pay the balance due or you will lose the down payment." By then, Gardner had lost his customers for the wood shavings, could not pay the balance due, and asked for the return of his down payment. Did these parties have an enforceable contract under the Statute of Frauds? Explain. Miller, Roger LeRoy. Cengage Advantage Books: Business Law Today, The Essentials: Text and Summarized Cases (p. 324). Cengage Learning. Kindle Edition.
Business
1 answer:
zaharov [31]3 years ago
7 0

Answer: This is not an enforceable contract, because they is no agreement of what will happen if any of the party failed to fullfil it's obligation in the contract agreement.

Explanation: An enforceable contract is a legal agreement between two or more parties, which is backed by the law.

The agreement between Kendall Gardner and B&C shavings is not an enforceable contract because it would be defrauding for Kendall Gerdner to loss $25,860 paid to B&C shavings, just because they can't complete it's payment. It will also be unfair to B&C shavings since their have spend it's money to build the shaving mill.

Their contract agreement lacks what should be done if any party failed to fullfil its own part in the agreement.

B&C shavings doesn't have the right to withhold Kendall Gardner down payment, as it's not agreed in their contract.

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On August 1, 2018, Deeva, Inc., sold equipment and accepted a six-month, 9%, $50,000 note receivable. Deeva's year-end is Decemb
Bingel [31]

Answer:

$1,875

Explanation:

Given that,

Amount of note receivable = $50,000

Time period = 6 month

Interest rate = 9%

Interest amount:

= Principle amount × Interest rate × Time period

= $50,000 × 0.09 × (6/12)

= $2,250

Interest Accrued from 1 August to 31 December :

= (Interest amount ÷ 6 months) × 5 months

= ($2,250 ÷ 6 months) × 5 months

= $375 × 5 months

= $1,875

4 0
4 years ago
If an employer chooses a per diem method of substantiation for travel expenses,
Ahat [919]

If an employer chooses a per diem method of substantiation for travel expenses, the meals and incidental expenses method requires actual cost records to substantiate lodging expenses.

Option E

<u>Explanation: </u>

The price of the meal and the additional expenses while travelling away from home for work purposes is deducted from an employee or self-employed person. The expense deduction generally requires the costs to be substantiated.

There has been, however, an optional form that prohibits receipts for these taxpayers.

The IRS releases Diem levels for different parts of the United States (see Notification 2015-63 on the subject of irs.gov). For just the intent of measuring a meal and an accessory deduction, taxpayers may use such per diem rates and will be required to prove it.

If an employer wants a method of proof of travel expenses by Diem, the meal and by-product procedure requires real cost records in order to prove accommodation expenses.

7 0
3 years ago
On September 1, 2021, Southwest Airlines borrows $40.1 million, of which $8.2 million is due next year. Show how Southwest Airli
Zepler [3.9K]

Answer and Explanation:

The Preparation of balance sheet is shown below:-

                                       Balance Sheet

Current liability

Long term debt of Current portion $40,100,000

Long term liability

Notes payable                                $31,900,000

($40,100,000 - $8,200,000)

Total liabilities                                      $72,000,000

So, to reach the total liabilities we simply add the long term debt of current portion with notes payable.

5 0
3 years ago
Buying a new building increases business <br><br> Land/capital
Marysya12 [62]

Answer:

land

Explanation:

why because buying a capital we'll be to much

8 0
3 years ago
Read 2 more answers
Why does welsh imply that the authenticity of the dance is brought into question because of global sharing?
Margaret [11]

Irvine Welsh (born 27 September 1958) is a Scottish novelist, playwright and short story writer. His 1993 novel Trainspotting was made into a film of the same name. , Welsh says dance, music and its surrounding culture remain a major influence on his work.That is why he imply that the authenticity of the dance is brought into question because of global sharing?

When dance forms become globalized, the question of whether or not the style can maintain its authenticity is raised. This, in turn, raises the question of what it means to be culturally authentic in the first place, as well as whether or not a style of dance can truly be possessed by a person or people.

Dance is a deeply personal art form, steeped in traditions, emotions, and experiences. Authenticity is what keeps dance alive.

It's clear that authenticity is one of the most important values in our society - but it means different things to different people.For dancers, authenticity isn't just some word to be tossed around.

To learn more about of authenticity of the dance here

brainly.com/question/28179011

#SPJ4

3 0
2 years ago
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