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KiRa [710]
3 years ago
6

Abe Lincoln was scheduled to give a speech that was rumored to be better than his Gettysburg Address. Many citizens were plannin

g on attending this occasion. The local bed and breakfast was renting out rooms at three times the normal rate during the time that Lincoln would be in town for his speech. Paul and Patti Smith rented a room for that amount because they were so excited to hear Lincoln speak. A day before Lincoln's speech, he was assassinated while enjoying the theatre. The bed and breakfast sought payment for the room rental, but the Smiths refused. The bed and breakfast sued for the Smiths for breach of contract. This is an example of
a. discharge by illegaility
b. discharge by destruction of subject matter
c. discharge by commercial impractibility
d. discharge by death
e. discharge by frustration of purpose
Business
1 answer:
Assoli18 [71]3 years ago
5 0

Answer:discharge by frustration of purpose

Explanation:

Discharge by frustration of purpose is a defense concept used in law in order to bring about a breach or termination of a contract.This occurs when unplanned,spontaneous or unforeseen circumstances occurs and thus,it prohibits or prevents the core reason in which the contract was being entered into at the time of the contracts agreement,with both parties fully aware of the core reason which brought about the establishment of the contract.That is to say,the primary objective in which the contract was being created upon has automatically brought about a halt of the secondary reason(which is the contract itself),having in mind that both parties were originally aware of the primary reason for entering the contract.

Here,Paul and Patti Smith rented a room an amount triple it's original price because they were so excited to hear Lincoln speak. A day before Lincoln's speech, he was assassinated.So this disappointment brought about a "discharge by frustration of purpose" by the Smiths,not forgetting that that The bed and breakfast knew it was their original intent,that's why they paid such exorbitant prices for the room rental,although it sued them.

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Gwen inherited 100 shares of supershoes stock when her mother died on october 21, 2015; the fair market value of the stock was $
Dafna1 [17]

Answer: Gwen should report a $3,000 long-term capital gain in her income tax return.

In this question the price paid by Gwen’s mother for the shares is irrelevant because of her death.

The stock’s fair market value ($20) when Gwen inherited the shares (21st October 2015) is Gwen stepped up value.

Gwen’s gain from selling the shares is:

Gain / (Loss) = (Selling Price per share - Stepped up value per share) * Number of shares

Gain = (50 - 20) *100

Gain = $3,000

Gwen inherited the shares on (21st October 2015) and held the shares until (3rd july 2017), so she held the shares for more than one year after inheriting it.  So, she will report a long-term capital gain on her income tax return.

5 0
3 years ago
What is the acceleration of an object that has a mass of 4.0 kg if the net force acting on it is 26N
Lynna [10]
Use Newton's Second Law: Fnet = ma
where Fnet = total net force, m = mass of object, and a = acceleration of object.

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26 = 4.0a
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The answer is 6.5 m/s^2
7 0
3 years ago
A(n) ______ indicates the maximum quantity of a product that may be brought into a country during a specific time period:
mash [69]

What indicates the maximum quantity of a product that may be brought into a country in a specific period is a quota.

<h3>What does quota mean?</h3>

A quota is the maximum monetary value of a good and service that can be imported into a country for a  specific period.

The purpose of a quota is to restrict the amount of import into a country so as to boost local production of the good for which the quota is placed. Quotas also limit foreign competition.

To learn more about imports, please check: brainly.com/question/26497713

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2 years ago
Sweetland is a nation that publicly supports a free market economy with private ownership of businesses. Over time, the governme
VLD [36.1K]

Answer:

B. False

Explanation:

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3 years ago
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Natali5045456 [20]

Answer and Explanation:

The Journal entry is shown below:-

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         To Cash Dividends Payable $335,000

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4 0
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