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Alex_Xolod [135]
3 years ago
8

While under contract to play professional basketball for the Philadelphia 76ers, Billy Cunningham, an outstanding player, negoti

ated a three-year contract with the Carolina Cougars, another professional basketball team. The contract with the Cougars was to begin at the expiration of the contract with the 76ers. In addition to a signing bonus of $125,000, Cunningham was to receive under the new contract a salary of $100,000 for the first year, $110,000 for the second, and $120,000 for the third. The contract also stated that Cunningham "had special, exceptional and unique knowledge, skill and ability as a basketball player" and that Cunningham therefore agreed the Cougars could enjoin him from playing basketball for any other team for the term of the contract. In addition, the contract contained a clause prohibiting its assignment to another club without Cunningham’s consent. In 1971, the ownership of the Cougars changed, and Cunningham’s contract was assigned to Munchak Corporation, the new owners, without his consent. When Cunningham refused to play for the Cougars, Munchak Corporation sought to enjoin his playing for any other team. Cunningham asserts that his contract was not assignable. Was the contract assignable? Explain.
Business
1 answer:
denpristay [2]3 years ago
5 0

Answer:

Billy Cunningham and the Cougars

The contract was not assignable to another club.

But, the contract (assets and liabilities) can be inherited by a successor entity using the same club, the Cougars.

Explanation:

The contract was not assigned to another club, despite the change of ownership of the Cougars.  Interestingly, the contract between Cunningham and Carolina Cougars was inheritable with the change of ownership of the Cougar Club from the formers owners, Carolina Cougars, to the new owners, Munchak Corporation.  The clause prohibiting the contract's assignment to another club without Cunningham's consent was not violated.

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Three years ago, you invested $3,350.00. Today, it is worth $4,100.00. What rate of interest did you earn
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Answer:

6.97%

Explanation:

the formula to be used is

The formula for calculating future value:

FV = P (1 + r)^n

FV = Future value  

P = Present value  

R = interest rate  

N = number of years  

$4,100.00 = $3,350.00 x ( 1 + r)^3

divide both sides of the equation by $3,350.00

$4,100.00 / $3,350.00 = ( 1 + r)^3

1.223881 = ( 1 + r)^3

find the cube root of both sides

1.069661 = 1 + r

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7 0
4 years ago
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Answer:

The answer is 'Buy a Stock Index Future'

Explanation:

To take best advantage of this situation, Mr Smith should go long(buy) on this stock.

Stock Index Future js a method of derivates. Futures, like forward contract is a forward commitment which obligates the buyer to purchase an asset or the seller to sell an asset and have a predetermined future date and price. Future is used to hedge against worse future situations.

7 0
4 years ago
A change in income preferences or prices of other goods or services leads to a that causes a:______
exis [7]

Answer:

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In mathematically,

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By considering the above information, the change in income preferences is due to change in demand plus it also shift of the demand curve

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Bi-Lo Traders is considering a project that will produce sales of $44,800 and have costs of $25,700. Taxes will be $4,500 and th
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3 years ago
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andreev551 [17]

Answer:

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