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pickupchik [31]
3 years ago
7

Alex, a senior professional golfer living in Florida, en¬tered into a sponsorship agreement with Golf Pro Associates, a Michigan

partnership ("GPA"). The agreement provided that (1) GPA would sponsor Sutton on the PGA Tour, (2) GPA would pay all of Alex’s expenses, (3) GPA and Alex would equally divide his prize money after GPA is re¬imbursed for expenses, and (4) GPA would provide Alex health insurance.
Preliminary negotiations were on the telephone. GPA prepared a written agreement at its office in Michigan and sent it to Alex in Florida, who signed and returned it to GPA. GPA then signed the agreement and sent a copy to Alex. He participated in several senior PGA events, including two in Florida. While playing in Palm Springs, Alex suffered a heart attack and incurred medical costs of $100,000. GPA had not obtained health insurance coverage as agreed, so Alex sued GPA in a Florida state court for breach of contract. GPA moved to dismiss the action for lack of personal jurisdiction.
A. Can the Florida court, under its long arm statute, exercise personal juris­diction over the Michigan defendant in this case? Discuss.
Business
1 answer:
Fed [463]3 years ago
5 0

Answer:

Firstly in a long arm resolution, it requires the damage to be occurred inside the state, in the event of individual damage activities.  

In the event that the defendant’s executes any business inside the state or agreements anyplace to supply products and enterprises inside the state than the cases emerging from this are amiable to jurisdiction and test for exchange is subjective. Along these lines an agreement of guaranteeing any individual, property inside the state has the option to present locale.  

So here, Florida had individual locale over the defendant where the defendant had marked the long haul contract with the offended party. So the Florida law would apply right now, the court discovered there was sufficient to build up close to home locale in Florida as observed by the defendant’s educated and deliberate contacts with Florida partnership.

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A manager attempting to take credit for a subordinate's ideas is engaging in a type of _____
Fiesta28 [93]
Plagiarism is when you take correct for someone else's work
8 0
3 years ago
A company can best accomplish diversification into new industries by:
lara31 [8.8K]

Answer and Explanation:

Option B is the correct answer

B) acquiring a company already operating in the target industry, creating a new business from scratch, or forming a joint venture with one or more companies to enter the target industry.

4 0
3 years ago
True or false: When a capital investment decision is being made between two or more alternatives, the project with the shortest
Flura [38]

Answer:

False

Explanation:

The payback period refers to the specific period of time that it is required to recover the amount invested and it is an important factor to take into account but the project with the shortest payback period is not necessarily the most desirable investment because other factors are also considered, for example, the expected profit and the conditions in the environment that may affect the assumptions made. Because of that, the answer is that the statement is false.

3 0
3 years ago
Union Local School District has bonds outstanding with a coupon rate of 3.1 percent paid semiannually and 22 years to maturity.
arlik [135]

Answer:

The price of the bond is $9,537.91

Explanation:

Coupon payment = $10,000 x 3.1 = $310 / 2  = $155

Number of period = n = 22 x 2 = 44 semiannual periods

Face Value = $10,000

Yield to maturity = 3.4% yearly = 3.4% /2 = 1.7% semiannually

Price of bond is the present value of future cash flows, to calculate Price of the bond use following formula:

Price of the Bond = C x [ ( 1 - ( 1 + r )^-n ) / r ] + [ F / ( 1 + r )^n ]

Price of the Bond =$155 x [ ( 1 - ( 1 + 1.7% )^-44 ) / 1.7% ] + [ $10,000 / ( 1 + 1.7% )^44 ]

Price of the Bond = $155 x [ ( 1 - ( 1.017 )^-44 ) / 0.017 ] + [ $10,000 / ( 1.017 )^44 ]

Price of the Bond = $4,774.94 + $4,762.97

Price of the Bond = $9,537.91

5 0
4 years ago
Ayayai Corp. uses the percentage of receivables method for recording bad debts expense. The accounts receivable balance is $200,
Ket [755]

Answer:

Option (B) is correct.

Explanation:

Amount of which adjusting entry required:

= Amount of uncollectible accounts - Balance in Allowance for uncollectible accounts

= (Balance in accounts receivable × Estimated percentage of accounts receivable to be uncollectible) - Balance in Allowance for uncollectible accounts

= ($200,000 × 4%) - $2,000

= $8,000 - $2,000

= $6,000

Therefore, the adjusting entry is as follows:

Bad debt expense A/c      Dr.  $6,000

To Allowance for uncollectible accounts    $6,000

(To record the bad debt expense)

5 0
3 years ago
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