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iragen [17]
3 years ago
12

Kentucky Lumber and MillWork Company contracted to supply Rommell Company millwork for use in the construction of a school build

ing. While the work was in progress the Kentucky Lumber mill was destroyed by fire. For two months thereafter, Kentucky Lumber and Millwork Company supplied Rommell with mill work purchased by it from a third party. The Kentucky Lumber mill did not wish to continue this plan and declared that the contract was ended. Rommell Company brought an action against Kentucky Lumber to enforce the contract. How will the court decide?
Business
2 answers:
Scilla [17]3 years ago
6 0

Answer:

Kentucky Lumber and MillWork Company Vs Rommell Company

Most likely, the court will decide that Kentucky should continue to perform its contract obligations.  We note that following the destruction of the mill by fire, Kentucky never invoked the clause of force majeure.   It continued to fulfill its obligations for a period of two months.  

Before the case comes to the court, Kentucky should have requested for a renegotiation of the contract price with Rommell if it had discovered that the cost of buying from third-party suppliers could prevent it from continuing with the contract.  Note that the fulfilment of a contract is not based on mere wishes but on facts, supported by the prevailing circumstances.

Explanation:

The court will decide to answer Rommell's prayers for an equitable relief by forcing Kentucky Mill to continue with the specific performance of the contract or to pay damages to Rommell for losses arising from the failure of Kentucky to fulfil the contract.

omeli [17]3 years ago
5 0

Answer:

Kentucky can gain advantage since it has not breached any terms of the contract.

Explanation:

Kentucky Lumber will be beneficiary of the decision since it is Rommel company who is ending up the contract but Kentucky Lumber is willing to continue the service according to the terms of the contract. Kentucky mill work was destroyed but it bought the equipment from a third party to continue providing the service according to the contract terms.

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Subdivision regulations imposed by developers in an effort to maintain control of the development of the subdivision are an exam
lesantik [10]

An example of Private land use control is illustrated in a Subdivision regulations that is imposed by developers in an effort to maintain control of the development of the subdivision.

<h3>What is a Private land use control?</h3>

This refers to a land control with a deed restrictions that limits what can be done on the property by the owner.

Hence, Private land use control is illustrated in a Subdivision regulations that is imposed by developers in an effort to maintain control of the development of the subdivision.

Read more about Private land

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8 0
2 years ago
can someone who owns a successful business give me inspiration on achieving to be a successful business owner​
ziro4ka [17]

Answer: Have a sellable plan, be innovative & consistent

Explanation:

There are some things to consider that would guide you on a successful part in any venture you going into.

1) Have a plan, a sellable one; people would only buy what they need, so going into business, are you selling what they need or what you feel like doing?

2) Be innovative; innovation is one item that keeps you in market above others for a long time, if you can't be innovative, you'll leave the market earlier than you would ever imagined.

3) Be consistent; doing business is really hard, especially when you intend succeeding. You have to be consistent both in good and bad days, the result of these speaks over time.

8 0
3 years ago
A fast-food restaurant featuring hamburgers is adding salads to the menu The price to the customer will be the same Fixed costs
Colt1911 [192]

Answer:

$19200

Explanation:

This breakeven point can be calculated as under:

Breakeven Quantity = (Fixed Cost - Additional F. Cost) / (Selling Price - Variable Cost per unit)

Here

Fixed cost = $12,000

Variable Cost = $1.5 per unit

Selling Price = $2 per unit

Additional Fixed Cost = $2,400

By putting Values:

Breakeven Quantity = ($12,000 - $2,400) / ($2 - $1.5)

Breakeven Point = 19,200

7 0
3 years ago
Indicate the accounts affected and enter decreases to account categories with a minus sign. a. At the end of the period, bad deb
lubasha [3.4K]

Answer:

The journal entries are given;

Explanation:

a. Bad Debt Expense   Dr.$17,300

   Allowance for Doubtful Accounts Cr.$17,300

b. Allowance for Doubtful Accounts Dr.$7,100

   Accounts Receivable                      Cr.$7,100

With Bad Debt Expense ,the retained earnings will be decreased by ($17,300)

with direct written off,the accounts receivables will be reduced by ($7,100) in balance sheet.

7 0
3 years ago
A start-up internet service provider expects to gain money in each of the first four years. Gains are projected to be $50 millio
ipn [44]

Answer:

A. Draw the cash flow diagram.

since the site doesn't include a drawing tool I just prepared a table to depict cash flows associated to years one through four:

Year                   Cash inflows

1                            $50 million        

2                           $60 million  

3                           $70 million  

4                           $100 million  

B. What is the present worth of the gains for the first three years?

  • the present value of the first three cash flows = $50/1.1 + $60/1.1² + $70/1.1³ = $45.45 + $49.59 + $52.59 = $147.63 million

C. What is the present worth of the gains for all four years?

  • the present value of the first three cash flows = $50/1.1 + $60/1.1² + $70/1.1³ + $100/1.1⁴ = $45.45 + $49.59 + $52.59 + $68.30 = $215.93 million

D. What is the equivalent uniform annual worth of the gains through year four?

  • equivalent annual worth = (NPV x r) / [1 - (1 + r)⁻ⁿ] = ($215.93 x 0.1) / [1 - (1 + 0.1)⁻⁴] = 21.593 / 0.31699 = $68.12 million

3 0
3 years ago
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