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erica [24]
3 years ago
9

Notren, Inc., a U.S. company, and SWT, a Singapore company, entered into a contract under which SWT is to ship party supplies to

Notren. One of the terms of the contract states, "Any disputes that arise under this contract will be resolved in the courts of Singapore." This contract term is a
Business
1 answer:
enyata [817]3 years ago
7 0

Answer:

Choice of forum clause.

Explanation:

In this scenario, Notren, Inc., a U.S. company, and SWT, a Singapore company, entered into a contract under which SWT is to ship party supplies to Notren.

In the contract agreement, one of the terms of states; "Any disputes that arise under this contract will be resolved in the courts of Singapore."

Hence, this contract term is a choice of forum clause.

A choice of forum clause can be defined as a contractual provision in a contract in which the involved parties stipulates the place of jurisdiction, choice of arbitrators, conciliators, or group of arbitrator or conciliators for any lawsuit, litigations, arbitration, or conciliation arising from the particular contract. In this case, the place of legal jurisdiction is the court of Singapore.

Additionally, a contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law. Also, mutual assent is a legal term which represents an agreement by both parties to a contract. Therefore, mutual assent connotes agreement, acceptance and consent to a contract by both parties.

This ultimately implies that, both Notren Inc. and SWT are in a contract as a result of mutual assent between the two (2) parties.

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On June 30, Sharper Corporation’s stockholders' equity section of its balance sheet appears as follows before any stock dividend
muminat

Answer:

Find below the equity section of the balance sheet

Number of shares outstanding is now 105,000

Explanation:

The equity section of the balance is an excerpt of the entire balance sheet containing the worth of equity stockholders' investment in the business which comprises of the common stock,paid in capital in excess of par as well as the retained earnings.

Equity section of Sharper Corporation balance sheet :

Common stock-$10 par value,120,000 authorized,105,000 issued and outstanding ($700,000+$350,000)                                                    $1,050,000

Paid in capital in excess of par                                                             $300,000

Retained earnings ($710,000-$350,000)                                             $360,000

Total stockholders' equity                                                                      $1,710,000

The stock dividend of 50% means that 35,000 more shares(50%*70,000 shares are given to shareholders for free,funded by retained earnings by debiting retained earnings with $350,000 (35,000*$10) and crediting same to common stock

total number of shares outstanding=70,000+35000=105000

5 0
3 years ago
The standard time for producing one unit of work in a job paying $12.75 per hour was set at twelve minutes. The piece rate would
aalyn [17]

Answer:

The right answer is option (A).

Explanation:

According to the scenario, given data is :

Time required for one unit = 12 Min

Payment for job =  $12.75 / Hour

So, payment for job per minute = $12.75 / 60 = $0.2125 / minute

Hence, Rate per piece = rate/minute × time required for one unit

= $0.2125 × 12

= $2.55

Hence the most appropriate answer is option (A).

7 0
3 years ago
Darla is going to start writing the HTML code for a web page. What would she start with?
kirill115 [55]

HTML stands for Hyper Text Markup Language and describes the structure of Web pages using markup.

Darla, who is going to start writing the HTML code for a web page should start with the opening tag. Correct answer: D

HTML tags are element names surrounded by angle brackets. They come in pairs like <p> and </p>. The first tag in a pair is the opening tag, or also called the start tag.

8 0
3 years ago
How do you feel about testing?
Andru [333]
Answer:

Well I feel like test give me some much anxiety. I get very nervous and worried even if I had studied for the test. Test also sometimes make me feel shaky lol. But overall I feel like test just stresses students out and it’s not really good

Explanation:
7 0
2 years ago
Read 2 more answers
You are reviewing the Client Overview tab for a new client to determine the scope of a bookkeeping clean-up engagement. You noti
Scrat [10]

Answer:

See explanation section

Explanation:

Three reasons could be causing the opening equity balance high, and those are -

1. Issuing more common stock is one of the significant reasons for the company that causes a large amount in the opening balance of the equity account.

2. Issuing excess preference stock to involve the investors can be the other reason to get a higher amount of beginning equity balance.

3. Making much profit for the prior years, and keeping them with the retained earnings without expanding the business can be the third reason.

7 0
3 years ago
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