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Anna35 [415]
3 years ago
4

When a contract does not accurately reflect the intentions of the parties because of some mechanical or clerical error in the do

cument, what legal action is necessary to correct or modify the contract?
Business
1 answer:
larisa [96]3 years ago
5 0

Answer:

When a contract does not accurately reflect the intentions of the parties because of some mechanical or clerical error in the document, the legal action to correct or modify the contract would be a reformation.

Explanation:

Contract reformation is a process by which freely and voluntarily signed contracts are modified to be faithful to what the contractors originally wanted, in case they have an error in their wording or composition.

The function of the reformation is to avoid a legal process or a conflict that may result from the doubtful interpretation of a contract, by applying it in the way that the contractors originally wanted, and not in the way it was wrongly written.

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An electronics company makes communications devices for military contracts. The company just completed two contracts. The navy c
Lera25 [3.4K]

Answer:

Explanation:

For Navy contract, the total number of man hours put into production will be:

= 27 × 40 × 2

= 2160 man hours

Then, the units produced per labor hour will be:

= 2540 devices / 2160

= 1.176 units per labor hour.

For Army contracts, the total number of man hours put into production will be:

= 37 × 40 × 3

= 4440 man hours

Then, the units produced per labor hour will be:

= 5940/4440

= 1.338 units per labor hour.

3 0
3 years ago
Chartreuse County Choppers Inc. is experiencing rapid growth. The company expects dividends to grow at 25% per year for the next
LuckyWell [14K]

Answer:

Stock price is $142.13

Explanation:

Given that:

Dividends (D) = $1.74

Dividend grow rate (g) = 25% = 0.25

Required return (R) = 12% = 0.12

Growth rate period (T) = 11 years

Perpetuity (p) = 6% = 0.06

Stock price = [D(1 + g) / (R-g)] {1 -[(1 + g) / (1 + R)]^T}+ [(1 + g)/(1 + R)]^T[D(1 + p)/(R-p)]

Substituting values:

Stock price = [1.74(1 + 0.25) / (0.12-0.25)] {1 -[(1 + 0.25) / (1 + 0.12)]¹¹}+ [(1 + 0.25)/(1 + 0.12)]¹¹[1.74(1 + 0.06)/(0.12 - 0.06)]

Stock price = [(-16.73) × (-2.34)] + [(3.35) ×(30.74)] = 39.1482 + 102.979 = $142.13

Stock price is $142.13

4 0
4 years ago
Bella is a discount furniture store. Most of the items in the store are overstock and hence tend to be more inexpensive than oth
marysya [2.9K]

Answer:

<u>Reference Pricing</u>

Explanation:

Reference pricing strategy refers to a pricing mechanism whereby the products are priced slightly lower than competitor's products.

When such a pricing strategy is followed, the store owners provide heavy discounts to the buyers to encourage sales.

In the given case, the store deals in discounted furniture. Bella displayed manufacturer's suggested retail price so as to let buyers know of the savings they shall make upon purchase.

Such pricing of goods at a heavy discount thereby showing savings, indicates reference pricing strategy being followed.

4 0
4 years ago
The Salty Pawz margins are good, but would Wanda be better off by lowering prices and potentially selling more? Would dropping h
Veseljchak [2.6K]

Answer: Incomplete question

Explanation: The data supplied is not enough to answer the question.

8 0
3 years ago
Food Well Inc. is an organization that operates several companies that market bulk food products, restaurant equipment, and disp
Nikolay [14]

Food Well is pursuing a Focus differentiation strategy.

<h3>What is Focus differentiation?</h3>

This is known to be a method  used in competitive advantage where a firm tries to outperform its rivals through the act of offering a product that is seen by consumers to be superior to that of competitors even if its price is higher.

It is known to be used in adopting a differentiation focus strategy. Here, the firm is based on narrow market coverage, and others.

Learn more about strategy from

brainly.com/question/9134427

3 0
2 years ago
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