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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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inflation can be measured by the a. percentage change in the price of a specific commodity. b. percentage change in the consumer
Brut [27]

Answer:

b. percentage change in the consumer price index.

Explanation:

Inflation is the increase in the price of a commodity, it is expressed as a percent change in the price of an item. We can calculate the inflation using percentage change in consumer price index.

Consumer price index measure the percentage of change in the price of a market basket of consumer goods and services.

6 0
3 years ago
Geneva needs additional capital to launch her business but does not want to share management responsibility with partners. Neith
Talja [164]

Answer:

The answer is: C) S corporation

Explanation:

Geneva should choose an S Corporation. In my opinion she should do it because corporate income, losses, deductions, and credits are passed through to its shareholders, while it can be managed like a normal corporation.

If she chooses a Limited Liability Partnership she would still have to share management responsibility with her partners and C Corporations are heavily taxed. If she had enough money she could start a sole proprietorship business, but she doesn't have enough money.

5 0
3 years ago
Neutrino Industries stock trades at $49 per share and there are 120 million shares outstanding. The management would like to rai
Gelneren [198K]

Answer:

Neutrino Industries must sell <u>8.68 million shares</u> to raise $400 million.

Explanation:

To calculate this, let B represents the number of shares Neutrino Industries must sell. Therefore, we have:

Gross proceeds = $49 * B, or $49B

Underwriter charges = 6% * $49B = $2.94B

To raise $400 million, we deduct the underwriter charges from gross proceeds and solve for B as follows:

$49B – $2.94B = $400,000,000

$46.06B = 400,000,000

B = 400,000,000 / 46.06

B = 8,684,324.79 shares, or 8.68 million shares.

Therefore, Neutrino Industries must sell <u>8.68 million shares</u> to raise $400 million.

4 0
3 years ago
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Revenue recognition is a GAAP which defines the specific conditions under which revenue can be recognized. Revenue recognition is a generally accepted concept of accounting. In fact, when the crucial event happened, profits are remembered and the value of the profit for the company is tangible.

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Answer:

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7 0
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