The answer, on the point of view of Boster, is A. Debit notes receivable and credit accounts receivable (not payable i think). This is from the point of view of Boster. So to Boster, he will have an accounts receivable by Martin company. So what Martin did is that he offered a promissory note to Boster. This will increase Boster's notes receivable. At the same time, this will also lessen Boster's accounts receivable since this turned into a notes receivable.
Answer:
The answer is Vista Estates
Explanation:
Before any sale can done done, notice must be given to Vista Estates. The property can now be sold after been giving proper notice.
Vista Estates still has the legal right of original ownership even though a lien has been placed on his property. A lien is a legal claim against a property.
A formula helps you understand the problem better!!!
Answer: The correct answer is d) NOMINAL
Explanation: Nominal interest rate is the interest rate before inflation is taken into account. Nominal interest rate can also be used to the advertised or stated interest rate on a loan, without taking into account any fees or compounding of interest.
It is the contractual interest rate charged by a lender or promised by the borrower.
Answer:
Ball can certainly hold Sullivan to a contract for sale of the land. Sullivan in his reply to Ball's enquiry offered to sell the forty-acre tract of land at $60,000 and nothing less. Ball accepted this offer by Sullivan by stating his acceptance.
These exchanges of offer and acceptance meet the terms of a valid contract. Therefore, Ball can always hold Sullivan for contract enforcement.
Explanation:
In making a valid contract, offer and acceptance are key ingredients, with specific consideration. Since the two parties, Ball and Sullivan are agreed on the consideration and have exchanged offer and acceptance, the validity of the contract is enhanced thereupon.
