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NISA [10]
3 years ago
11

Assume that Jack and Hal and Sophia enter into a valid contract for the sale of the restaurant and for the covenant not to compe

te, and the deal would close in one year. Six months prior to the closing, Jack notifies Hal and Sophia that he changed his mind and that he would not through with the sale. Which of the following is true?
1. Jack has Jack has anticipatorily repudiated the contract the and therefore the courts treat the contract as a mutual rescission.
2. Jack has anticipatorily repudiated the contract, but Hal and Sophia must wait until the date of the closing to consider the contract to be breached.
3. Jack has anticipatorily repudiated the contract and Hal and can immediately consider the contract to be breached. 4. Jack has the right to do so, since the sale has not yet.
Business
1 answer:
trasher [3.6K]3 years ago
5 0

Answer:

3) Jack has anticipatorily repudiated the contract and Hal and Sophia can immediately consider the contract to be breached.

Explanation:

Anticipatory repudiation of a contract refers to one party breaching the contract by declaring that they do not intend to perform consideration. Anticipatory repudiation is a type of contract breach, and as soon as the other party is notified about it, it can decide to claim any type of compensatory damages that may result from the breaching.

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On January 1, 2021, Laramie Inc. acquired land for $6.2 million. Laramie paid $1.2 in cash and signed a 6% note requiring the co
stepladder [879]

Answer:

The amount Laramie should record the purchase of land is <u>$6.2 million</u>.

Explanation:

The costs of a fixed asset refer to the purchase price and other relevant costs which are incurred in order to the location and working condition required to operate the fixed asset in way that it is intended.

The other relevant costs that are added to the purchase price to arrive at the cost of the fixed assets include professional fees, non-refundable taxes or levies, and among others.

If any trade discount or rebate is given, this will be deducted from the purchase price to arrive at the cost.

Any interest required to be paid on the delayed payment in order to reflects the time value of money are not part of the cost of the asset but expensed in the year they are incurred.

From the question, the land acquired is a fixed asset. Based on the explanation above, the total cost of the asset is $6.2 million. The interest from the 6% interest rate on the remaining $5 million will be part of the cost of the land but it will be expensed in the year they are incurred.

Therefore, the amount Laramie should record the purchase of land is <u>$6.2 million</u>.

6 0
3 years ago
10 POINTS PLEASE HELP ASAP
saul85 [17]

Answer:

I wanna say D

Explanation:

hope that helps

3 0
3 years ago
Annuity payments are assumed to come at the end of each payment period (termed an ordinary annuity). However, an exception occur
o-na [289]

Answer:

The future value of a 18-year annuity of $2,000 per period where payments come at the beginning of each period is $59,078.

Explanation:

We apply the formula to calculate future value of annuity to find the future value of 18-year annuity as at the beginning of year 18 ( because payment comes at the beginning of the year):

2,000/5% x (1.05^18 -1) = $56,264.77.

We further compound the future value of 18-year annuity as at the beginning of year 18 for one period to come up with the future value of this annuity as at the end of 18 year time:

56,264.77 x 1.05 = $59,078.

So, the answer is $59,078.

3 0
3 years ago
Bette's Breakfast, a perfectly competitive eatery, sells its "Breakfast Special" (the only item on the menu) for $5.00. The cost
Tamiku [17]

Answer:

Bette's Breakfast should increase the price or change the cost´s structure.

Explanation:

Bette's Breakfast should increase the price to get any profits because the total of the cost of serving that breakfast is higher than the price.  

Profit= price* sales -((Variable cost * sales) +Fixed cost)

Other option is changing the structure of cost per meal.

4 0
3 years ago
Read 2 more answers
When comparing Mexico to Scotland, you would expect Scottish workers to have ________. more satisfaction worse working condition
Fudgin [204]

When comparing Mexico to Scotland, you would expect Scottish workers to have greater productivity and higher labour cost per worker

Explanation:

One may expect that a Scotland plant will be less labour intensive and efficient per worker than just Mexican facilities as a more advanced technological nation and that "higher productivity and low labour cost" will be the right answer.

Both possibilities for lower productivity can be excluded as they demonstrate lower productivity. "Higher productivity, but less energy per job" is not the solution because it recognises lower labour costs per worker rather than higher.

The increase in labour productivity relies, according to certain studies, on three key factors: innovation and capital goods saving, modern technology and human capital.

5 0
2 years ago
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