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
scoundrel [369]
3 years ago
5

A landowner owned a large piece of property containing an inn and a bakery. She entered into a contract to sell the property to

a purchaser for $1 million. The contract was recorded. The purchaser gave the landowner $200,000 as earnest money. The closing date was set for September 10, two months after the signing of the contract. On August 10, an arsonist set fire to the inn, which burned to the ground. On September 10, the landowner appeared at the closing and tendered the deed to the property. The buyer refused to tender the remaining $800,000 of the purchase price and demanded the return of his earnest money. The landowner sued the buyer for specific performance of the contract. The buyer countersued for the return of his earnest money. Both parties stipulate that the value of the property without the inn is $600,000, that insurance on the property had lapsed, and that the common law, unmodified by statute, applies. What is the most likely result at trial
Business
1 answer:
pickupchik [31]3 years ago
6 0

Answer:

The most likely result at trial is that the landowner's claim for specific performance will be successful, and she will be awarded the entire price of contract.

Explanation:

When there isn't a statute, the buyer bears the risk of loss when property subject to a contract for sale is destroyed without fault of any party prior to the date specified for closing. Unless the contract specifies otherwise, the buyer must pay the contract price even if the property is damaged by fire.

The inn was burned down in this case after the landowner and the buyer signed a contract for the sale of the property, but before the closing date. The contract appears to be silent on the risk of loss, and no appropriate statute exists. As a result of the common law rule, the buyer bears the risk of loss. Therefore, the landowner has the right to particular execution of the contract, which implies that the entire stipulated contract price must be paid by the buyer.

Regardless of the property's drop in worth owing to the fire, the $1 million contract price must be paid by the buyer because he bears the risk of loss.

Therefore, the most likely result at trial is that the landowner's claim for specific performance will be successful, and she will be awarded the entire price of contract.

You might be interested in
Which of the following is not a type of fiduciary fund?
snow_tiger [21]

Answer:

The correct answer is a.Special service funds

Explanation:

This corresponds to funds used for social investment. All financial resources of a tax and non-tax nature that are generated, obtained or originated in the production or provision of goods and services that the Executing Units or public entities carry out, in accordance with the Law. They are oriented to the attention of public budget expenditures.

6 0
3 years ago
Think of a time you encountered an ethical dilemma. What was the situation? How did you react? Do you behave ethically? How do y
otez555 [7]

Answer: Ok so i work in a place where realtionships at the job are forbbiden, well not forbbiden strictly but you get it right. so, this boy and this girl were dating and once the boss found he did not let them work together he actually seperated them and the girl had to work with me and the boy had to work with other coulleges.    

Explanation: i hope you understand

3 0
3 years ago
Which is an example of a preventative measure related to possible medical
Rama09 [41]

An example of a preventative measure related to medical identity theft would be carefully checking the medical records of a person. Option A is correct.

<h3>What is a preventative measure?</h3>

In opposition to disease treatment, preventative measures refer to actions or steps taken to ward off illness. The usual categories used to describe preventive care strategies are primary, secondary, and tertiary prevention.

Maintaining control of medical identity cards and routinely reviewing medical bills, credit reports, medical benefit accounts, and instruction invoices are examples of preventative measure.

Medicare and Social Security cards that have been stolen away require to be accounted right away to the Social Security Administration.

Therefore, option A is correct.

Learn more about a preventative measure, refer to:

brainly.com/question/11588438

#SPJ1

7 0
2 years ago
A textbook publisher produces a textbook for $25 per book and sells a lot of 160 to the Campus Bookstore for $50 per unit. The b
Dmitry_Shevchenko [17]

Answer:

$4,000

Explanation:

The net profit of the publisher over the useful life of the 160-unit lot of textbooks is the difference between his selling price to the bookstore and the cost incurred multiplied by the number of unit.

Hence the net profit of the publisher

= 160( $50 - $25)

= 160 * $25

= $4,000

8 0
3 years ago
What is the value today of a money machine that will pay $2,655.00 every six months for 27.00 years? Assume the first payment is
MAVERICK [17]

Answer:

Present value is $74,116.62

Explanation:

Giving the following information:

The machine pays= $2,655.00 every six months

n= 27 years= 54 semesters

Interest rate= 0.13/2= 0.065

First, we need to calculate the final value using the following formula:

FV= {A*[(1+i)^n-1]}/i

A= annual pay

FV= {2,655*[(1.065^54)-1]}/0.065= $1,183,854.61

Now, we can calculate the present value using the following formula:

PV= FV/(1+i)^n

PV= 1,183,854.61/(1.065)^44= $74,116.62

3 0
3 years ago
Other questions:
  • North Division has the following information:
    13·1 answer
  • What are the three benefits of networking when searching for a job
    11·2 answers
  • The selling price of houses would be most likely to decrease if there were first a decrease in which of the following? A. New-ho
    12·2 answers
  • Poodle Corporation was organized on January 3, 2011. The firm was authorized to issue 100,000
    9·1 answer
  • Which of the following correctly indicates the order of phases in product planning?
    11·1 answer
  • Cool Compartments Inc. has offered to sell 20,000 ice-makers to Refrigerator Company for $28 per unit. If Refrigerator accepts C
    7·1 answer
  • g A(n. ________ determines which areas of a firm's operations represent strengths or weaknesses (currently or potentially. compa
    15·1 answer
  • 2. Which of the following holds large quantities of product that are later sent either to retail
    6·1 answer
  • Using the smith's bbq report, if your total cost of sales will increase by 1% next week, how much in total sales must you make n
    15·1 answer
  • A business cycle reflects changes in economic activity, particularly real gdp. the stages of a business cycle are?
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!