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
mr Goodwill [35]
3 years ago
12

Hardwoods, a timber supplying company, contracted with a furniture manufacturer, Taylor Furniture. Hardwoods owned a large plot

of land where it grew oak and beech trees. Taylor had contracted with Hardwoods to buy one ton of each type of lumber grown by Hardwoods each month at a discounted price for the next five years. However, during the second year of the contract, and tornado Hardwoods farmland, and demolished its entire supply of wood. Taylor having no other supplier sued Hardwoods for breach of contract. Hardwoods argued that their contract had been legally discharged as soon as the tornado struck because at that point it was impossible for Hardwoods to supply lumber to Taylor. The court ruled in favor of Hardwoods. But what if the facts of the case were different
Business
1 answer:
Sergeeva-Olga [200]3 years ago
7 0

Answer:

the options are missing, so I looked for a similar question:

  1. Instead of a tornado’s striking Hardwoods’ land, the state in which Hardwoods operates passes a law making it illegal for any lumber  companies to cut down trees for the purposes of selling their wood. This environmental measure causes Hardwoods to go out of business.
  2. Instead of demanding Oak and Beech wood grown specifically on Hardwoods’ land, Taylor requests shipments of Oak and Beech wood  from Hardwoods, and specifies in the contract that if Hardwoods cannot supply the wood, then Hardwoods should obtain the requested wood from another lumber supplier.
  3. Instead of a tornado’s striking Hardwoods’ tree farm, a wildfire burns all of Hardwoods’ trees.
  4. After the tornado, Hardwoods and Taylor Furniture agree to a novation, whereby a competing company, Oakempire, assumes the duties of  Hardwoods stated in the original contract.

The answers are:

2. Instead of demanding Oak and Beech wood grown specifically on Hardwoods’ land, Taylor requests shipments of Oak and Beech wood  from Hardwoods, and specifies in the contract that if Hardwoods cannot supply the wood, then Hardwoods should obtain the requested wood from another lumber supplier.

4. After the tornado, Hardwoods and Taylor Furniture agree to a novation, whereby a competing company, Oakempire, assumes the duties of  Hardwoods stated in the original contract.

Explanation:

In common law, a tornado or any other type of natural disaster is considered an Act of God. A company cannot be held liable for such events, and if a contract is breached because of it, there is no legal responsibility (option 3 is another type of Act of God)

Also, if the law or existing regulation changes, and that change makes it impossible for a party to fulfill their obligations, they are not liable for breaching the contract (option 1).

You might be interested in
An income statement under absorption costing includes which of the following: ______________
ra1l [238]

Answer:

a. Direct materials

b. Direct labor

c. Variable overhead

d. Fixed overhead

Explanation:

The absorption costing is the costing in which the income statement should includes all types of production cost i.e. direct material cost, direct labor cost, variable overhead and the fixed overhead

So as per the given statement, all the four types of costing should be involved while preparing the income statement under the absorption costing

Hence, all 4 options should be considered

4 0
3 years ago
The beginning inventory was 300 units at a cost of $10 per unit. Goods available for sale during the year were 1,300 units at a
Ugo [173]

Answer:

a. The number of units purchased in October = 400

The cost per unit = $12

b-1. Cost of goods sold = $7,950

Ending inventory = $6,450

b-2. Cost of goods sold = $8,650

Ending inventory = $5,750

Explanation:

a) Data and Calculations:

Beginning inventory    300 units  at $10 per unit = $3,000

May purchases            600 units at $11 per unit =     6,600

October purchases     400 units at $12 per unit =    4,800

Goods available        1,300 units                             $14,400

Ending inventory        550 units

Goods sold                 750 units

a. The number of units purchased in October = 400 (1,300 - 300 - 600)

The cost per unit = $12 ($4,800/400)

b-1. Cost of goods sold and ending inventory using FIFO method:

Cost of goods sold:

300 units  at $10 per unit = $3,000

450 units at $11 per unit =     4,950  $7,950

Ending inventory = $6,450 ($14,400 - $7,950)

b-2. Cost of goods sold and ending inventory using LIFO method:

Cost of goods sold:

350 units at $11 per unit =     3,850

400 units at $12 per unit =    4,800

Total Cost of goods sold = $8,650

Ending inventory = $5,750 ($14,400 - $8,650)

8 0
3 years ago
The total manufacturing cost variance consists of a.direct materials cost variance, direct labor rate variance, and factory over
Lostsunrise [7]

Answer: The total manufacturing cost variance is made up of direct material cost variance, direct labor cost variance and factory overhead cost variance. (Option C).

Explanation:

Some of the goals of manufacturing companies are to increase company’s revenue and profit. To achieve this, a company needs to know how to manage its costs and these may cause variances in manufacturing.

The total manufacturing cost variance is made up of direct material cost variance, direct labor cost variance and factory overhead cost variance. These costs are the differences between the actual cost incurred and the set cost. These variances help managers to know if the company is meeting up to the required standard.

7 0
3 years ago
​A-Plus Appliances sells dishwashers with a​ four-year warranty. In​ 2019, sales revenue for dishwashers is​ $94,000. The compan
Elan Coil [88]

Answer:

$4230 is the correct answer to the given question .

Explanation:

As Mention in the question the sales revenue to the dishwashers = $94,000

Also the company estimated  warranty expense cost is =4.5% of revenues,

Now the estimated warranty payable can be determined by the following formula  

Annual\  sales\  revenue\ for \ the \  dishwashers\ * warranty\  expense\  revenues.

 = \ 94000\ * \ 4.5\ % \ of \  revenues

== $4230

                                             

6 0
2 years ago
Some checking accounts require a minimum amount of money in the account or they charge point monthly fees?
QveST [7]

Answer:

True

Explanation:

4 0
2 years ago
Other questions:
  • Which of the following are possible outcomes of rapid population growth?
    10·2 answers
  • What part of a check is the least important
    5·2 answers
  • The budget that estimates a firm's projected cash inflows and outflows, as well as cash shortages or surpluses during a given ti
    5·1 answer
  • Palmona Co. establishes a $200 petty cash fund on January 1. On January 8, the fund shows $97 in cash along with receipts for th
    12·1 answer
  • Personal values and work values cannot be related. Please select the best answer from the choices provided T F
    10·2 answers
  • Identify 2 ways technology has a positive impact on society
    8·1 answer
  • Yolanda has osteoarthritis of the left knee for which she is receiving acetaminophen 1000mg every six hours. She rates her pain
    7·1 answer
  • 3 best basic economic questions
    15·1 answer
  • Imagine that you are the manager of valley skateboard shop. the accountant for the business has delivered the news that sales ar
    13·1 answer
  • What type of forces accelerate masses?
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!