Decrease, cut, halt, slow down.
Answer:
Yes,it is a classic case of fraud as Thomas owes the buyer a duty of disclosure of material facts
Explanation:
Fraud
This is simply defined as act of deception. It is an act carried intentional by an individual to get an unfair advantage over another person.
The deceptive trade practices act
This is simply a federal law set up by government. It watches over business, making sure that fraud and misrepresentation do not take place when companies provide products and services.
In real estate, the seller required to tell the buyer about the property's condition and nothing should be left Thomas is guilty of fraud for covering up and not disclosing all conditions or state of the property.
The tests for disclosure outlined by the courts includes
1. The seller must not obstruct the buyer's attempts to inspect the property. The "as is" clause must be an important element of the contract.
2. The buyer and seller must not be in a relatively unequal bargaining position
All known defects must be disclosed by the seller
Answer:
The developer intends to sell 138 units by the end of year 5
Explanation:
The 100 units grows at the 5% per year, hence you would in the attached spreadsheet the applicable number of housing units per year, which is calculated by multiplying previous year's units with 1.05
Since capture rate is 25% the number of expected sale is 25% of the total of 552.56 as given in the attached.
Answer:
Disclaimer
Explanation:
Express warranties could be simply be described as the agreement which binds a seller and buyer during the purchase of a certain product. Express warranties usually gives buyers the opportunity to return the product to the seller if damaged within a specified period of tine. Express warranty usually has no borders. Tbe use of disclaimer is used by sellers in other to introduce clauses into an express warranty whereby certain terms and conditions are given before the warranty can be deemed as valid. These limitations inteoduced and are capable of voiding the express warranty is called a disclaimer.
Answer:
1. 30 JUNE Salaries Expense 10800 Dr
Salaries Payable 10800 Cr
1 JULY Salaries Payable 10800 Dr
Salaries Expense 10800 Cr
2 JULY Salaries Expense 18000 Dr
Cash 18000 Cr
2. 30 June Salaries Expense 10800 Dr
Salaries Payable 10800 Cr
2 July Salaries Expense 7200 Dr
Salaries Payable 10800 Dr
Cash 18000 Cr
Explanation:
1. We record the entry at the end of the fiscal period based on accrual principle and record the expense related to that period. This is why we debited the expense that was already due ( 18000/5 * 3) and recorded as an expense and as a payable as payment will be made on 2 July.
In reversing entries, we reverse an adjusting entry back on the start of next period. Then we record the entry again on payment day. The effect on expenses for this year, however, is unchanged as there is 10800 on credit side in Wages expense and the effect of crediting 18000 is still 7200 (18000- 10800).
2. If we don't pass a reversal entry, we just record the normal accrual entry at the end of the period and debit the liability ( Wages payable) and the remaining expense when payment is made on July 2.