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Sholpan [36]
3 years ago
5

Monumental, Inc. contracts with Champion Builders to erect a three-story office building on a parcel of land it has purchased. B

efore construction begins, the local zoning board changes the zoning of the parcel and those adjoining it to residential use only. Monumental’s contract with Champion is discharged.
A. True.B. False
Business
1 answer:
Elza [17]3 years ago
7 0

Answer:

A) True

Explanation:

Monumental can discharge the contract by frustration. In order for a contract to be discharged by frustration, four conditions have to occur:

  1. An unforeseeable event must occur: In this case the zoning changes were unforeseeable.
  2. No party is at fault: the zoning board made the changes to the zoning of the land.
  3. Performance is impossible: there is no reason why an office building should be built in a residential only area.
  4. The result is radically different than expected: neither Monumental or Champion Builders expected a zoning change to occur.
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What are three advantages of attending a community job fair? You can fill out job applications. You can decide whether you like
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The lower of cost or market approach is Blank______ for companies that use Blank______. Multiple choice question. required under
LenaWriter [7]

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<h3>What is market approach?</h3>
  • The market approach is a method of evaluating an asset's worth based on the selling price of comparable assets.
  • Along with the cost technique and discounted cash-flow analysis, it is one of three main valuation methodologies (DCF).
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  • A realtor, for example, can gather information on comparable real estate sales in close vicinity to a client's property and modify those values to account for differences in land area and building square footage to arrive at a market-based valuation for the targeted property.

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Know more about the market approach here:

brainly.com/question/8084221

#SPJ4

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The lower cost or market approach is _____ for companies that use _____.

a. optional under GAAP; LIFO or the retail inventory

b. optional under GAAP; any method of inventory valuation

c. required under GAAP; LIFO or the retail inventory

d. required under GAAP; any method of inventory valuation

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