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irakobra [83]
2 years ago
9

Quinn contracts to provide ten tons of scrap steel at $500 per ton to Rendered Materials, Inc. An unforeseen shortage of scrap s

teel suddenly develops, making it impossible for Quinn to fulfill the contract for less than $5,000 per ton. Quinn's best defense against performing the contract would be thata. ​procuring the steel would force Quinn into bankruptcy.b. ​the law has rendered performance of the contract illegal.c. ​performance of the contract is commercially impracticable.d. ​the specific subject matter of the contract has been destroyed.
Business
1 answer:
solong [7]2 years ago
7 0

Answer:

C) ​performance of the contract is commercially impracticable.

Explanation:

Contract law contemplates certain situations where performing the contract is either difficult or impossible and therefore the party is not liable for breaching the contract.

Commercial impracticability applies to contracts where the performance of at least one party is impracticable and cannot be accomplished.

In this case, Quinn cannot perform his duty since the price of scrap steel increased beyond any reasonable price contemplated in the contract. Since Quinn is not responsible for setting the price of scrap steel, he is not liable for breaching the contract.

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Question 7 of 10
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Answer:

The answer is B..........

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Exodus Limousine Company has $1,000 par value bonds outstanding at 15 percent interest. The bonds will mature in 30 years. Compu
nasty-shy [4]

Answer:

if YTM at 4% price :  $2,902.1237

if YTM at 8% price :  $1,788.0448

The bonds are above face value asthey offer a higher coupon payment than the market yield therefore the bond holders are willing to pay above theri face value

Explanation:

the market price of the bond will be the present value of coupo payment and maturity:

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

C 150.000

time 30

rate 0.04

150 \times \frac{1-(1+0.04)^{-30} }{0.04} = PV\\

PV $2,593.8050

\frac{Maturity}{(1 + rate)^{time} } = PV  

Maturity   1,000.00

time   30.00

rate  0.04

\frac{1000}{(1 + 0.04)^{30} } = PV  

PV   308.32

PV c $2,593.8050

PV m  $308.3187

Total $2,902.1237

No we repeat the process with the yield at 8%

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

C 150.000

time 30

rate 0.08

150 \times \frac{1-(1+0.08)^{-30} }{0.08} = PV\\

PV $1,688.6675

\frac{Maturity}{(1 + rate)^{time} } = PV  

Maturity   1,000.00

time   30.00

rate  0.08

\frac{1000}{(1 + 0.08)^{30} } = PV  

PV   99.38

PV c $1,688.6675

PV m  $99.3773

Total $1,788.0448

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3 years ago
The ________ section details the tactics the firm will use to develop, market, and sell the offering.a. executive summarySelect
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Answer:

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The strategy section of a business plan highlights all the techniques the firm could carry out to produce, publish, and sell its goods or services. Besides, in this section, the main problems a company might face during operations are exposed and the methods specialists will implement to attempt to figure out those situations.

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