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lakkis [162]
3 years ago
5

Stewart, the owner of ABC Construction, agreed with Joan, the owner of XYZ Hotel that he would complete renovations on her upper

scale hotel on the beach in Florida by October 1. The amount due to Stewart under the contract was $250,000. The contract contained a clause by which Stewart would pay Joan $50,000 for each day he was late on completing the project. Unfortunately, an unexpected strong earthquake shook the area; and while the earthquake did not damage the hotel itself, Stewart encountered significant difficulty in getting supplies due to the high demand for building material following the earthquake. Because he believed that traveling, himself, to other states to obtain supplies would be prohibitively expensive, he delayed the project for two weeks while waiting for local stores to have sufficient supplies available. Stewart finished renovations six days late. Joan told Stewart that she owed him nothing but that he owed her $50,000. Stewart told Joan that he was suing for the entire $250,000 because it was not his fault the earthquake delayed matters. Which of the following is Stewart's best defense?
A. Mitigated damages term
B. Liquidated damages clause
C. Stipulated damages
D. Acknowledged damages clause
E. Approved and acknowledged damages clause
Business
1 answer:
Rufina [12.5K]3 years ago
6 0

Answer:

Mitigated damages term

Explanation:

The best defense for Stewarts in this situation is Mitigated damage term. This enables him to reduce his penalty on the breach of contract,

Even though the situation was outside his control , but the contract he signed stipulated that he will pay $50,000/ day of delay in the project which had unfortunately happened.

However , the damages can be reduced or even avoided if he sue for mitigated damage term

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In a Bring Your Own Device (BYOD) policy, the user acceptance component may include separation of private data from business dat
docker41 [41]

Answer:

A. True

Explanation:

When saying data we can be referring to both private information of the owner of the Smartphone as well as information of the organization since the user uses the phone to connect to services provided by it, which refers to the name of BYOD. The “Bring Your Own Device” (BYOD) phenomenon is based on the modality in which members of an organization are authorized to use their own personal mobile devices (smartphones, tablets, notebooks, etc.) in the activities of the organization where they work connected to the organizational network. The use of their devices to perform their work tasks in the organization causes what was a personal device to become part of the organizational network, with the problems that this could lead to.

4 0
3 years ago
A company using the periodic inventory system has inventory costing $142 on hand at the beginning of a period. During the period
Fantom [35]

Answer:

$174

Explanation:

The computation of the cost of goods sold is shown below:

As we know that

Cost of goods sold = Opening inventory + Purchase - ending inventory

= $142 + $432 - $400

= $174

By adding the purchase of merchandise and deducting the ending inventory from the opening inventory we can get the cost of goods sold and the same is to be applied

Hence, the cost of goods sold is $174

6 0
3 years ago
On November 1, Bahama National Bank lends $3.8 million and accepts a six-month, 6% note receivable. Interest is due at maturity.
babymother [125]

Answer and Explanation:

The journal entries are shown below:

a. Note receivable Dr $3,800,000

        To Cash $3,800,000

(Being the acceptance of the note is recorded)

For recording this we debited the note receivable as it increased the assets and credited the cash as it decreased the liabilities

b. Interest receivable Dr  $38,000

                 To Interest revenue  $38,000

(Being the interest revenue is recorded)

For recording this we debited the interest receivable as it increased the assets and credited the interest revenue as it increased the revenue

The computation is shown below:

= $3,800,000 × 6% × 2 months ÷ 12 months

= $38,000

,

7 0
3 years ago
Assume that a certain business has $1,000 worth inventory, $1,000 cash in bank, and $10,000 receivable from customers in three m
Tresset [83]

Answer:

A. $5,000

Explanation:

Plato

8 0
3 years ago
TUMI brand briefcases are very expensive, high-end briefcases that are generally sold in specialty luggage shops. Which of the f
myrzilka [38]

Answer:

B. Executives

Explanation:

Option E is wrong. Students do not need high-end briefcases for school or other tasks.

Option D is incorrect. Postal workers do not need any expensive briefcases to carry postal service and letters.

Option C is false. Construction workers cannot afford expensive briefcases.

Option A is not correct. Police officers have not necessary to have those briefcases.

Option B is correct. Executives often need high-end briefcases to keep essential things with them. They can also afford expensive bags.

7 0
3 years ago
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