Answer:
The answer is: C) If Jack does not accept the $100,000, there is a valid contract for the sale of the business, without a non-competition clause.
Explanation:
Non competition clause (NCC) is a legal contract that binds one party to not work for or start a rival company (in the same trade) that will compete against the other party.
In this case, Jack said he would probably agree to sign a NCC if they paid him $100,000 more, but he never said he would sign for sure the NCC. So Jack can refuse to sign the NCC and reject the extra $100,000. The selling contract would still be valid, it was never stated that if no NCC was signed, then the contract would be dismissed.
Answer:
The answer is: Locking in customers
Explanation:
Locking in a customer refers to a situation where customers become dependent on a single supplier for an specific product or service. If they quit on that supplier then they will lose money.
In this case the International Zoological Club makes you pay their product (magazine) two years in advance so if you decide to quit their subscription you´ll lose some money. Therefore so unless you want to give away money, then you are locked in to their magazine for at least two years.
Answer:
it is in the picture hope it will help to solve your answer
Answer:
$15,000
Explanation:
The value that the computer equipment should be recorded in the accounting records of the partnership is the fair value
When calculating the value of a partner's share in a partnership, we use the Asset Approach
.
The approach calculates <u>net asset value by subtracting the fair market value of the business's liabilities from the fair market value of its assets</u>.
Hence in the scenario, the applicable value for the computer equipment will be the fair value of $15,000