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CaHeK987 [17]
3 years ago
9

Assume that Jack, Hal, and Sophia enter into a written contract for the sale of the restaurant, including the building and all o

f its contents. Jack orally tells Hal and Sophia that he wants to keep a certain a mounted fish that is hanging on the wall of the restaurant. The contract contains an integration clause. Jack later goes to get the fish, but Hal and Sophia claim that it was part of the sale. Jack sues. What is the likely result?A. Jack cannot bring in the evidence of the oral agreement because of the parol evidence rule.
B. Jack will automatically win the case based on the parol evidence rule.
C. Jack could likely rescind the entire contract if Hal and Sophia do not turn over the fish.
D. Jack can bring in the evidence of the oral agreement because of the parol evidence rule.
Business
1 answer:
Fynjy0 [20]3 years ago
6 0

Answer:

A. Jack cannot bring in the evidence of the oral agreement because of the Parol Evidence Rule.

Explanation:

The Parol Evidence rule is a rule in the Anglo-American common law that governs or determines the types or kinds of evidence that parties to a contract dispute can introduce when trying to determine the specific terms of a contract.

The rule also prevents introduction of further evidences by a party after a final written document or agreement has been reached. Things such as the content of oral discussions from earlier in the negotiation process, as evidence of a different intent as to the terms of the contract. The rule states that "extrinsic evidence is inadmissible to vary a written contract". The term " patrol" refers to "word of mouth" hence it is referred to oral pleadings in a court case.

Therefore from the question, Jack cannot bring in evidence of oral agreement into the court for evaluation because of Patrol Evidence Rule.

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Prepare the issuer's journal entry for each of the following separate transactions.
jeka57 [31]

Answer:

a.

March 1

Debit  : Cash $318,500

Credit : Common Stock $198,000

Credit : Excess of Par $120,500

<em>Being Issue of Par value Shares for $318,500 cash</em>

b.

April 1

Debit  : Cash $84,000

Credit : Common Stock $84,000

<em>Being Issue of no Par value shares for $84,000 cash</em>

c.

April 6

Debit  : Inventory $53,000

Debit : Note Receivable $103,000

Credit : Common Stock $68,000

Credit : Excess of Par $88,000

<em>Being Issue of Par value Shares for Inventory and Note Receivable</em>

Explanation:

Note: We are instructed to prepare journals from the issuer`s point of view and this needs to be followed.

When shares are issued, the Common Stock increases :

a. For par value Common Stocks, any price paid in excess of par value is accounted in Excess of Par Reserve.

b. For no par value shares, there is no Excess of Par Reserve, we simply record the increase in Common Stock at the price paid for.

3 0
3 years ago
Trade Associations provide all of the following except
Lyrx [107]

Answer: B: a degree

Trade Associations provide all of the following a degree.

Explanation:

Trade Associations refer to a group of people in a particular business or trade, who come together to promote their common interests. They are established to set laws and provide great knowledge to companies within the industry.  Members operate in the same industry. They are non-profit organizations who provide different learning tools for businesses in a particular industry. They are also known as trade organization.

6 0
3 years ago
Malcolm Industries recently hired a large number of workers for the company's new construction factory in Colorado. During the h
Arturiano [62]

The complete question should have been:

Malcolm Industries recently hired a large number of workers for the company's new construction factory in Colorado. During the hiring process, the management made a clear effort to recruit physically strong individuals because the work at the factory involves manual labor. The jobs need to be performed by individuals who have the energy and physical stamina to work for long hours. Which of the following surface-level characteristics did the company most likely concentrate on when selecting the new workers?

A.) Age

B.) Values

C.) Beliefs

D.) Religion

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Answer: Age.

Explanation:

Malcolm Industries made use of Age as the Surface Level Characteristic that determined who would be employed. A surface level characteristics can be defined as differences that individuals possesses that easily be identified when they are seen.

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Ruth executes a will in 2012 naming her nephew stan as sole beneficiary. in 2014, ruth executes another will, naming her niece t
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Stan and Tammy will share the estate in equal shares. You are able to have as many beneficiaries as you name, due to this and no change in the first will, both will be heirs to the estate. If Ruth were to have revoked the first will, then it would have left Tammy the sole beneficiary.

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MArishka [77]

Answer: True

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5 0
3 years ago
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