1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
frez [133]
2 years ago
6

James hires Franco for a painting job. Their contract explicitly states that Franco's employment can be terminated if he is empl

oyed by another party during the contract period. Two weeks into the job, James finds out that Franco is also working for a painting agency two blocks away and terminates his employment. This is an instance of ________.
Business
1 answer:
den301095 [7]2 years ago
5 0

Answer:

Condition subsequent.

Explanation:

This is rampant on agreement that deal with contracts as it is seen to be a situation that terminates a previously valid contract. Closely related legal concepts in cases of this kind are treated as conditions precedent and conditions concurrent. A condition subsequent in certain contracts are known to trigger the termination of the agreement of the said contract and also eliminates rights and obligations in the ends of the two parties. It is seen also in cases that when it occurs, it terminates any duty to perform and can also terminate rights and interests that were present under the terms of the contract.

You might be interested in
Calculate gross profit for the following situation: National Storage Company had sales of $1,000,000, sales discounts of $2,500,
Pie

Answer:

$475,500

Explanation:

Sales is $1,000The discountscount is $2500

Sales return and allowances are $15,000

The cost of goods sold is $525,000

Therefore the gross profit can be calculated as follows

= 1,000,000-2,500-15,000-525,000

= 457,500

Hence the gross profit is $475,500

3 0
2 years ago
An web designer quits a project where she was paid $50,000 on completion of the project. She joins a new company with sales reve
shutvik [7]

Answer:

$150,000

Explanation:

Economic profit is accounting profit less implicit cost or opportunity cost.

Accounting profit = Total revenue - Total cost

Economic profit = Total revenue - Total cost - Opportunity cost

Opportunity cost is the cost of the next best option forgone when one alternative is chosen over other alternatives. The opoortunty cost of the web designer is $50,000.

Revenue is $550,000

Total cost = $250,000 + $30,000 + $70,000 = $350,000

Economic profit = 550,000 - $350,000 - $50,000 = $150,000

I hope my answer helps you

4 0
3 years ago
The primary policy tool used by the fed to meet its monetary policy goals is.
Makovka662 [10]

The primary tool used by the Fed to achieve monetary policy goals is <u>Open Market Operations.</u>

<h3>What are Open Market Operations (OMO)?</h3>
  • This refers to the trading of securities by the fed.
  • Securities traded include bills, notes, and bonds.

When the fed wants to increase the money supply, they will buy these securities from the public. If it is a decrease they they seek, they will sell securities to the public.

In conclusion, this is Open Market Operations.

Find out more about Open Market Operations at brainly.com/question/14256204.

5 0
2 years ago
Mr. Green purchased a property with the provision in the sale agreement that the seller would provide him with a warranty deed.
natima [27]

Answer:

specific performance

Explanation:

  • Specific performance in relation to confidential information is commonly used as a prohibition relief
  • Specific performance is the equivalent compensation in contract law, under which a party issues orders requiring a party to perform a specific action, which is the execution of the contract.
  • It is usually available for sale under the Land Act, but is generally not available if the damage is an appropriate option.
  • If the seller fails to sell or the property is handed over to the seller, the buyer receives a specific performance under the provisions of the Specific Relief Act, 1963.
  • A similar right is available under the seller. The contract requires specific performance from the buyer.
3 0
3 years ago
Morris Company applies overhead based on direct labor costs. For the current year, Morris Company estimated total overhead costs
Sindrei [870]

Answer:

d) $38,000 Debit balance.

Explanation:

Predetermined overhead rate = Estimated Total Overhead Costs / Estimated Direct Labor Costs

= $472000 / $2,360,000

= 0.2

= 20% of direct labor costs.

Applied overheads = (20%*Actual direct labor costs)

Applied overheads = 20% * $1,980,000

Applied overheads = $396,000

So, Overhead under-applied = $434,000 - $396,000 = $38,000 (Debit)

8 0
3 years ago
Other questions:
  • Refer to scenario 1.3. which environmental factor is exemplified by the customer trend that consumers were no longer willing to
    8·1 answer
  • Kayleigh is looking over a number of material requisition slips from her employees. She has to sign off on each request after re
    11·1 answer
  • Fullerton Waste Management purchased land and a warehouse for $720,000. In addition to the purchase price, Fullerton made the fo
    12·1 answer
  • Which step of the financial planning process involves devising strategies to help accomplish financial goals?
    14·1 answer
  • If the company budgets to need 4000 units to sell for a month, has a beginning inventory of 1000 units and a desired ending inve
    7·1 answer
  • Yellow Enterprises reported the following ($ in 000s) as of December 31, 2018. All accounts have normal balances. Deficit (debit
    15·1 answer
  • Laura works for a company that sells luxury cars. Laura approaches a customer by offering the keys to a customer and encouraging
    10·1 answer
  • What macroeconomic goal is Real GDP used to measure for?
    12·1 answer
  • An effect of changing legislation on human resources professionals is that: Multiple select question. they must update company H
    15·1 answer
  • actionow and becca enter into an oral contract in which becca agrees to work on a project for actionow’s living opportunities ce
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!