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jeka94
3 years ago
10

Kay, an art collector, promised Hammer, an art student, that if Hammer could obtain certain rare artifacts within 2 weeks, Kay w

ould pay for Hammer’s postgraduate education. At considerable effort and expense, Hammer obtained the specified artifacts within the 2-week period. When Hammer requested payment, Kay refused. Kay claimed that there was no consideration for the promise. Hammer would prevail against Kay based on:_______.
A. Unilateral contract.
B. Unjust enrichment.
C. Public policy.
D. Quasi contract.
Business
1 answer:
IRINA_888 [86]3 years ago
5 0

Answer:

Hammer would prevail against Kay based on:_______.

A. Unilateral contract.

Explanation:

A unilateral contract is a contract created by an offer that can only be accepted by performance. To form the contract, the party making the offer (called the “offeror”) makes a promise in exchange for the act of performance by the other party.

in relation to the case in the contract, Hammer had carried out the duties expected of him thus making the contract valid under a unilateral contract.  

since in a unilateral contract, the offer can only be accepted when the other party completely performs the requested action.

Hence  Hammer would prevail against Kay based on Unilateral contract.

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Marlene has been living in her $120,000 home for 31 years. Because she has paid off the mortgage, she decides to save some money
Ksju [112]

Marlene will receive $5,000 in the insurance settlement.

<h3>What is an insurance settlement?</h3>

An insurance settlement is an indemnity or compensation that the insurance company pays to the insured to settle an insurance claim according to the insurance policy guidelines.

<h3>Data and Calculations:</h3>

Property value = $120,000

Homeowner's coverage = $40,000

Estimated damage = $12,000

Standard coinsurance requirement threshold = 80%

Expected insurance coverage = $96,000 (120,000 x 80%)

Co-insurance penalty = 41.67% ($40,000 / $96,000 x 100)

Indemnity  = $5,000 ($12,000 x 41.67%)

Thus, Marlene will receive $5,000 in the insurance settlement.

Learn more about insurance indemnity at brainly.com/question/8025172

#SPJ12

8 0
1 year ago
What is important to know about yourself when making a career choice?
yaroslaw [1]
It’s important to know your limits and your strengths.
The goal is to do your best in the job you have, so before making that important choice, it’s good to think about maybe your talents or hobbies that you have.
You could ask yourself questions such as:

Do I communicate well with people?

What am I best at?

Am I able to fulfill the tasks that are included in this career?

And I’m sure there are more questions, but it is a good thing to know yourself that way when you apply for a job, you know what you’re getting into.

I hope this helps!
~Brooke❤️
5 0
3 years ago
Archie Co. purchased a framing machine for $45,000 on January 1, 2021. The machine is expected to have a four-year life, with a
k0ka [10]

Answer: $10,000 and $25,000

Explanation:

DEPRECIATION FOR 2022.

Straight line method of depreciation means it depreciates by the same amount every year. You can calculate by

(Cost - Residual Value) / useful life.

=($45,000 - $5,000) / 4

= $10,000.

Each year the framing machine reduces by $10,000 meaning in 2022 the depreciation will be $10,000.

BOOK VALUE AT DECEMBER 31, 2022

We've established that every year the value drops by $10,000.

On December 31, 2021, it dropped by $10,000.

On December 31, 2022, it dropped by another $10,000.

Adding that together gives you 10,000 + 10,000 = $20,000.

$20,000 is the total depreciation at the end of 2022.

Subtract that figure from the cost,

=$45,000-$20,000

=$25,000.

BOOK VALUE ON DECEMBER 31, 2022 is $25,000.

8 0
3 years ago
Which of the following is an owner of a fee simple absolute NOT able to do...? Lease the property to another Pledge the property
xxTIMURxx [149]

Answer:

Correct Answer:

4. Build beyond the property line of the land

Explanation:

Fee simple absolute is an estate in land, which is a form of freehold ownership. It is a way that real estate and land may be owned in common-law countries. And, also is the highest possible ownership interest that can be held in real property.

7 0
3 years ago
Given the data below for production equipment,Initial Cost, P = $50,000 Salvage Value at the end of 5 years, S = $10,000. Deprec
Taya2010 [7]

Answer:

1. B. $8,000

2. C. $7,200

Explanation:

Units or production (UOP) method of depreciation bases the depreciation expense of a machine or equipment on how much it is actually used during the period.

depreciable value = $50,000 - $10,000 = $40,000

depreciation rate per unit = $40,000 / 25,000 = $1.60

Year          Projected Production units         Actual Production units

1                              4,500                                    5,000

2                             5,000                                    4,000

3                             3,500                                    3,000

4                             5,500                                    5,000

5                             6,500                                    Not known

Total                      25,000

depreciation expense year 4 = $1.60 x 5,000 = $8,000

accumulated depreciation year 4 = $1.60 x 17,000 = $27,200

book value = $50,000 - $27,200 = $22,800

if sold at $30,000, gain resulting from sale = $30,000 - $22,800 = $7,200

7 0
2 years ago
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