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nalin [4]
3 years ago
9

If the buyer in an oral contract for the sale of land has paid any portion of the sale price, has begun to permanently improve t

he land, or has taken possession of the land, the courts will consider the contract partially performed under the theory of _____.
A. Substantial performanceB. Partial performanceC. Sales substantiationD. The purchase proof ruleE. The sales proof rule
Business
1 answer:
xxMikexx [17]3 years ago
4 0

Answer:

B. Partial performance.

Explanation:

Partial performance is the place one party finishes performance under an oral contract – may make the oral contract enforceable, regardless of the Statute of Frauds. A party must exhibit his performance was exclusively inferable from the oral contract.

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6 0
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A company borrowed $40,000 cash from the bank and signed a 6-year note at 7% annual interest. the present value of an annuity fa
Anna [14]
The present value (PV) of an annuity of P equal periodic payments for n years at r% is given by:

PV=Pa_{n\rceil r}

where a_{n\rceil r} is the <span>present value of an annuity factor for n years at r%.

Given that </span>a<span> company borrowed $40,000 cash from the bank and signed a 6-year note at 7% annual interest and that the present value of an annuity factor for 6 years at 7% is 4.7665.

Then

40000=4.7665P \\  \\ P= \frac{40000}{4.7665} =8,391.90

Therefore, </span><span>the annual annuity payments equals $8,391.90</span>
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