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3 years ago

an artist brought a breach of contract claim against a museum...what effects will the dismissal order have

Business

1 answer:

mezya [45]3 years ago

6 0

Answer:

The artist will not be able to refile or restart the same claim again.

Explanation:

The breach in a contract means when one of the party who have entered into an agreement fails to perform or deliver according to the contract terms made in the agreement.

In the context, the dismissal is be able to operate as the adjudication on its merits which $\text{precludes the artist from re-asserting the same claim}$ in some newly filed action. This involuntary dismissal are also prejudice, so that artist will not be able to re-start the same claim in a newly filed action.

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Incorporators are required to sign the charter, deliver it to the proper state officials, and purchase a certain percentage of t

alex41 [277]

The statement " Incorporators are required to sign the charter, deliver it to the proper state officials, and purchase a certain percentage of the initial stock offering " is FALSE.

Explanation:

Incorporation of a business means making a company officially known by the company's sole property or general partner. If a company forms, it becomes a legal structure separating the individuals who founded the company.

Even though a company does not have a office there, the company must always have a registered agent within the state of incorporation.

Incorporation provides shareholders with immunity from personal liability for the company's debts.

8 0

3 years ago

Joe Chin bought a house for $180,000. He made a 20% down payment. Joe secured a loan for the balance of the purchase price at 6.

Ivan

Answer:

910.18

Explanation:

After Chin's down payment the amount borrowed is ...

(1 - 20%)($180,000) = 0.80·$180,000 = $144,000

The amount of the payment is given by the amortization formula ...

A = P(r/n)/(1 -(1 +r/n)^(-nt))

for P borrowed at rate r for t years, compounded n times per year.

A = 144000(0.065/12)/(1 -(1 +.065/12)^(-12·30)) = 910.18

The monthly loan payments will be 910.18.

6 0

3 years ago

The Smith Company manufactures insulated windows. Costs for March were as follows. Direct labor $53,000 Indirect labor 18,000 Sa

Marat540 [252]

Answer:

$27,000

Explanation:

The following costs were incurred by Smith's company during the month of March

Direct labor $53,000

Indirect labor 18,000

Salary of corporate vice president for advertising 25,000

Direct materials 48,000

Indirect materials 4,000

Interest expense 7,500

Salary of factory supervisor 3,000 Insurance on manufacturing equipment 2,000

Therefore the actual manufacturing overhead for March can be calculated as follows

= Indirect labour + indirect materials + salary of factory supervisor + insurance on manufacturing equipments

= $18,000 + $4,000 + $3,000 + $2,000

= $27,000

Hence the actual manufacturing overhead for March is $27,000

8 0

3 years ago

Elsa, the owner of Fertile Farm, sells Gina a right to camp on Fertile land overnight. Gina's right is _________.a. a leasehold

Sonja [21]

Answer:

B, a license

Explanation:

A license is an official permit issued by a person or body in authority to do, own or use a thing. A license could be granted as a sign of agreement between parties on a particular thing.

From the question, Elsa gave Gina license to use her farm land as a camp for one night. After one night, the license expires.

I hope this helps.

6 0

3 years ago

Zuo Software categorizes its accounts receivable into four age groups for purposes of estimating its allowance for uncollectible

yaroslaw [1]

Answer:

(1) $66,500

(3) $453,500

Explanation:

(1) Account receivable total:

= $400,000 + $50,000 + $40,000 + $30,000

= $520,000

Allowance for uncollectible account total:

= ($400,000 × 8%) + ($50,000 × 15%) + ($40,000 × 30%) + ($30,000 × 30%)

= $32,000 + 7,500 + $12,000 + $15,000

= $66,500

Balance of allowance for uncollectible accounts on 12/31/2021 is $66,500.

(2) Journal entry for adjusting the allowance for uncollectible account is :

Bad debt expense A/c Dr. $44,500

To Allowance for uncollectible account $44,500

(Adjusting entry)

Workings:

= Amount uncollectible - credit balance in its allowance for uncollectible accounts

= $66,500 - $22,000

= $44,500

(3) Net account receivable balance on 12/31/2021:

Accounts receivables total = $520,000

Allowance for uncollectible account = $66,500

Net Account Receivables:

= Accounts receivables total - Allowance for uncollectible account

= $520,000 - $66,500

= $453,500

7 0

3 years ago