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Ne4ueva [31]
3 years ago
12

Patricia has a valid judgment against David, which she now wishes to execute. David has no assets in the state where the judgmen

t was entered. He has now moved to California where rumor has it he owns thousands of acres of beach-front property. Patricia may execute her judgment in California based on what type of jurisdiction?
Business
1 answer:
xz_007 [3.2K]3 years ago
4 0

Answer:

Quasi in rem

Explanation:

First of all," quasi in rem" is Latin for "as if against a thing". This jurisdiction principle enables a citizen from another state to take legal action against a citizen of the state based on his/her property rights.

In this case, this means that a California court does have legal rights over David's property and can execute Patricia's valid judgement against it.

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2 years ago
LeMay Department Store uses the retail inventory method to estimate ending inventory for its monthly financial statements. The f
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Answer:

Cost to retail ratio = 57.05%

Explanation:

Particulars                                                               Cost       Retail

Beginning Inventory                                            $46,000    $66,000

Add: Purchases                                                    $213,000   $406,000

Less: Purchases Return                                       $7,000       $9,000

Freight In                                                               $15,558          -

Net Markups                                                               -             $6,400

Good Avail. for Sales (Without markdowns)   $267,558   $469,000

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Cost to retail ratio = 0.570486

Cost to retail ratio = 57.05%

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3 years ago
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