The True Statement about Rescission is : If a party to a contract choses rescission as a remedy, that party cannot also make a claim for damages.
To Find the True Statement amongst all other option , we need to know more about Rescission.
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What is Rescission ?</h3>
The act of rescinding; the cancellation of a contract and the return of the parties to the positions they would have had if the contract had not been made. “recission may be brought about by decree or by mutual consent”
In contract law, rescission is an equitable remedy which allows a contractual party to cancel the contract. Parties may rescind if they are the victims of a vitiating factor, such as misrepresentation, mistake, duress, or undue influence. Rescission is the unwinding of a transaction. This is done to bring the parties, as far as possible, back to the position in which they were before they entered into a contract.
If the misrepresentation is fraudulent or negligent the court can award damages and rescind the contract, although where negligent misrepresentation occurs the court does have discretion to award damages in lieu of rescission.
Thus, we can conclude that the statement that Rescission is happens If a party to a contract choses rescission as a remedy, that party cannot also make a claim for damages.
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Answer:
Total Material Variance = $2,400 Unfavorable
Explanation:
Total Materials Variance = Standard Cost - Actual Cost
Here, standard cost = Standard Quantity Standard Rate
Standard quantity for actual output = 5,400
Standard Rate = $2.00 per pound
Standard Cost = 5,400 $2.00 = $10,800
Actual Cost = Actual Quantity Actual Rate
= 6,000 $2.20 = $13,200
Total Material Variance = $10,800 - $13,200 = - $2,400 Unfavorable
Since the value is negative the variance is unfavorable, as actual cost is more than standard cost.
Answer:
yes i guess it is true they are examples
Since the cost of $20,000 has been incurred two years ago, the firm should check and see as to how many units of the product were produced in the two years. Did the firm produce enough items to break even the cost of acquisition. Additionally the business should also check the current market value of this two year old equipment. The business manager should weigh in the savings that is to be obtained from outsourcing along with the resale value of the old machine and then take a declension as to whether the company should go for outsourcing. Also, the business manager must examine whether the outsourcing can happen for the long run. This is because two years down the line, outsourcing may have increased the cost and again another process may look attractive. So a through cost benefit analysis should be made before taking a decision.
First, it is an example of POOR MANAGEMENT. The whole scenario is an example of sexual harassment.
She can do three things; report it higher and risk retaliation, accept it as joking, and lastly LEAVE, get another job.