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Helga [31]
3 years ago
5

The Grondas, who owned a party store along with land, fixtures, equipment, and a liquor license, entered into a contract to sell

their liquor license and fixtures to Harbor Park Market in an agreement that was expressly conditioned on approval by the Grondas' attorney. The Grondas submitted the contract to their attorney but before the attorney had approved it, they received a second, better offer and submitted that contract to the attorney as well. The attorney reviewed both agreements and approved the second one. Harbor Park Market sued the Grondas for breach of contract. Will their suit succeed?
Business
1 answer:
Harman [31]3 years ago
8 0

Answer:

No the suit will not succeed as their is no agreement

Explanation:

The contract was conditional contract. As the condition explicitly said that, the right to agree on terms and conditions is explicitly attorney's right. When the attorney has not agreed on the terms and conditions of Harbor Park, the company hasn't formed any contract. Furthermore, there is no limitation on Grondas to consider other available options and attorney is also not obliged to agree to Harbor's offer.

Thus the suit that says Grondas has breached the contract is meaningless and will not succeed in the court.

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The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ende
Paladinen [302]

Answer:

Results are below.

Explanation:

<u>First, we need to calculate the cost of goods sold:</u>

COGS= beginning finished inventory + cost of goods purchased - ending finished inventory

COGS= 30,000 + 100,000 - 40,000

COGS= 90,000

<u>Now, the number of skis sold:</u>

Units sold= 150,000/750= 200 units

<u>Traditional income statement:</u>

Sales= 150,000

COGS= (90,000)

Gross profit= 60,000

Total selling expense= (50*200 + 20,000)= (30,000)

Total administrative expense= (10*200 + 20,000)= (22,000)

Net operating income= 8,000

<u>Contribution format income statement:</u>

Sales= 150,000

Total variable cost= (90,000 + 50*200 + 10*200)= (102,000)

Contribution margin= 48,000

Total fixed selling expense= (20,000)

Total fixed administrative expense= (20,000)

Net operating income= 8,000

4 0
3 years ago
Depending on the style of the wedding gown dash– and the size of the bride dash– a wedding dress​ custom-designed and sewn in​ j
Step2247 [10]
<span>These would be the variable costs. Since the dress uses up to a specified amount of each of these elements, the costs can vary depending on the size of the gown and the person wearing the gown. Variable costs, unlike those that are fixed, are able to change based upon outside factors.</span>
5 0
3 years ago
A company has a $36 million portfolio with a beta of 1.2. The futures price for a contract on the S&amp;P index is 900. Futures
Blizzard [7]

Answer:

Explanation:

A:

Number of contracts required:

= (0-1.2)×36,000,000÷(900×$250)

= -192

Since negative value, short 192 contracts.

B:

= (0.9 - 1.2)×36,000,000÷(900×$250)

= -48

Since negative value, short 48 contracts.

C:

= (1.8 - 1.2)×36,000,000÷(900×$250)

= 96

Since positive value, long 48 contracts.

7 0
3 years ago
How much are you willing to pay for one share of LBM stock if the company just paid an annual dividend of $2.24, the dividends i
Licemer1 [7]

Answer:

$18.33

Explanation:

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The dividend increase by 2.3% annually

= 2.3/100

= 0.023

The required return is 14.8%

= 14.8/100

= 0.148

Therefore the price that will be paid for one share of LBM stock can be calculated as follows

= 2.24 × (1+0.023)/(0.148-0.023)

= 2.24 × 1.023/0.125

= 2.29153/0.125

= $18.33

Hence $18.33 will be paid for one share of LBM stock

7 0
3 years ago
In every state, there is a government-subsidized university. This subsidy, in theory, would make it possible for tuition to be l
Hatshy [7]

Answer:

Explanation:

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