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Liono4ka [1.6K]
3 years ago
10

Assume that Jack, Hal, and Sophia enter into a valid contract for the sale of the restaurant and for the covenant not to compete

for five years. After three years, Jack starts selling frozen foods in violation of the covenant not to compete. Hal and Sophia sue, and the judge feels that the time restraint in the covenant not to compete was unreasonably long. Which would be an appropriate remedy?
Business
1 answer:
Salsk061 [2.6K]3 years ago
6 0

Answer: Reformation

Explanation: In simple words, reformation refers to a process in which something is changed in the current subject to set it again on the right path.

In the given case, the judge believes that the time period set for avoiding the competition is unusually long. Thus, they can reform the contract to make it suitable and justified for all the parties involved.

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On december 31, slugger batting cages company decides to trade in one of its batting cages for another one that has a cost of $5
alexira [117]

Answer:

The answer is A) $488 000

Explanation:

The current carrying amount of the batting cage is $30 000 ( 225000 - 195000 ). Although the cage is only being traded in for $12000. The $18000 is regarded as loss to the company trading in the batting cage.

The value of the boot is therefore the amount of batting cage acquired less the trade in value of $ 18000. We thus get to an amount of $ 488000

3 0
3 years ago
Read 2 more answers
If 1200 dollars is invested at an annual interest rate r compounded monthly, the amount in the account at the end of 3 years is
9966 [12]

Answer:

a. When r = 4 percent, the rate of change is 22.10%.

b. When r = 7 percent, the rate of change is 41.76%.

Explanation:

Note: This question is not complete the required values of r is omitted. To complete the question, these values are therefore provided before answering the question as follows:

Find the rate of change of the amount A with respect to the rate r for the following values of r:

a. r = 4 percent

b. r = 7 percent

The explanation of the answer is now given as follows:

The A given is correctly stated as follows:

A = 1200 * (1 + ((1/12) * r))^60 ……………………….. (1)

Therefore, we have:

a. When r = 4 percent

Substituting r = 4% into equation (1), we have:

A = 1200 * (1 + ((1/12) * 4%))^60 = 1200 * 1.22099659394212 = 1465.20

Rate of change = (A - Amount invested) / Amount invested = (1465.20 - 1200) / 1200 = 0.2210, or 22.10%

Therefore, when r = 4 percent, the rate of change is 22.10%.

b. When r = 7 percent

Substituting r = 7% into equation (1), we have:

A = 1200 * (1 + ((1/12) * 7%))^60 = 1200 * 1.41762525961399 = 1701.15

Rate of change = (A - Amount invested) / Amount invested = (1701.15 - 1200) / 1200 = 0.4176, or 41.76%

Therefore, when r = 7 percent, the rate of change is 41.76%.

7 0
3 years ago
Ayayai Inc. had the following balance sheet at December 31, 2019.
Mrrafil [7]

Answer:

(a) Increase in cash = $50,200

(b) Total Assets =  Liabilities and Stockholders' Equity = $298,900

Explanation:

Note: There are errors as date and name inconsistency in the requirements in this question. The requirements are therefore correctly stated before answering the question as follows:

(a) Prepare a statement of cash flows for the year 2020 for Ayayai Inc.

(b) Prepare the balance sheet as it would appear as of December 31, 2020.

The explanation of the answer is now provided as follows:

(a) Prepare a statement of cash flows for the year 2020 for Ayayai Inc.

Note: See part (a) of the attached excel file for the statement of cash flows for the year 2020 for Ayayai Inc.

In the attached excel file, we have:

Increase in cash = $50,200

(b) Prepare the balance sheet as it would appear as of December 31, 2020.

Note: See part (b) of the attached excel file for the balance sheet as it would appear as of December 31, 2020.

In the attached excel file, we have:

Total Assets =  Liabilities and Stockholders' Equity = $298,900

Download xlsx
8 0
2 years ago
You work as an assistant coach on the university swim team and earn $13 per hour. One day, you decide to skip the hour-long prac
Olegator [25]

Answer:

The answer is: $22

Explanation:

In order to calculate the cost of skipping practice, we have to calculate the total sum of the deficit incurred within the period, and this includes the money that would have been earned during that hour of practice if it had been attended (opportunity cost of time), and the admission fee into the carnival. This calculation is shown below:

Opportunity cost of time = $13

cost of admission into carnival = $9

Total cost of skipping practice = opportunity cost of time + cost of admission into carnival

= 13 + 9 = $22

3 0
3 years ago
How long would it take for the price level to double if inflation persisted at the following percentages?
Alekssandra [29.7K]

Answer:

inflation rate = 17.5 percent per year  ⇒ it will take 4 years to double

inflation rate =  35 percent per year  ⇒ it will take 2 years to double

inflation rate =  3.5 percent per year ⇒ it will take 20 years to double

Explanation:

we can use the rule of 70 to determine the amount of time it would take the general price level to double.

the rule of 70 is a simple way we can use to estimate the number of years it will take an investment to double given a certain growth rate.

70 / 17.5 =  4 years

70 / 35 =  2 years

70 /  3.5 = 20 years  

3 0
3 years ago
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