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EastWind [94]
3 years ago
11

Mr. Dealer bought a fleet of SUVs (sport utility vehicles) from General Motors (GM) on credit, GM agreeing not to assign the res

ulting account receivable without Dealer's consent. GM later, without debtor dealer's consent, assigned the account to The Bank of New York (BNY) for consideration. Dealer made payments to BNY, but claimed damages from GM for breach of contract. 1. Could Dealer collect damages from GM
Business
1 answer:
Temka [501]3 years ago
3 0

Answer:

Yes, Dealer could collect damages from GM because basically GM breached the contract. Any time a contract is breached, the non-breaching party can sue. But the real question here is what amount could the court assign to Dealer as compensation for damages incurred. If you want to rephrase this question, it would be: What damages did Dealer suffer due to GM's breach.

If the damages are not significant, then the court will probably assign some amount for nominal damages. To be honest, the greatest expenses here are actually the legal costs of the lawsuit. Unless Dealer can prove that assigning the contract actually hurt them (which I doubt), then the court will assign a small amount. Sometimes nominal damages can be very small and mostly symbolic, e.g. $1.

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Basile Corporation has budgeted sales of 36,000 units, target ending finished goods inventory of 4,000 units, and beginning fini
Luda [366]

Answer:

c. 38,200 units

Explanation:

The movement in the inventory account will be due to sales and production. Sales reduces the inventory balance while production increases it.

Given

budgeted sales of 36,000 units,

target ending finished goods inventory of 4,000 units,

and beginning finished goods inventory of 1,800 units

Let the units to be produced be t

1800 + t - 36000 = 4000

t = 4000 + 36000 - 1800

t = 38,200

38,200 units should be produced next year.

7 0
3 years ago
At the closing on June 15, the buyer is assuming a mortgage presently on the property, on which the monthly interest charge is c
Viefleur [7K]

Answer:

The correct answer is :

  • Debit seller $300;
  • Credit buyer $300.

Explanation:

The interest of a mortgage is estimated by dividing the interest rate by the days of the year and after that, the outcome has to be multiplied by the outstanding one. This interest can be the same amount every day of the same month. Normally, the amount due the lender is calculated a month at a time.

4 0
3 years ago
Brown Co. pays weekly salaries of $10,500 on Friday for a five-day workweek ending on that day. Assuming the end of the accounti
ra1l [238]

Answer:

c.credit to Wages Payable for $6,300.

Explanation:

The journal entry to record the wages expense is shown below;

Wages expense dr ($10,500 × 3 ÷ 5) $6,300

      To Wages payable $6,300

(being the wages expense is recorded)

Here the wages expense is debited as it increased the expense and credited the wages payable as it increased the liabilities

8 0
3 years ago
Conduct the necessary research to develop the policy using the library and the Internet. Some things that you need to keep in mi
11111nata11111 [884]

Answer:

Not using service if part of law is violated.

Cease of account in case of rules break attempt.

Limit the access according to the designation of employees.

Explanation:

Acceptable use policy is the document which lists the terms and conditions which needs to be agreed to access the corporate network. The AUP included set of rules which must be agreed in order to access the network by user. The documents can includes rules regarding the administrative controls, operational controls and technical controls.

8 0
3 years ago
Bill's product manager continues to perform well in the market. However, a competing product is coming on strong and is looking
Alex777 [14]

Answer:

Raise the marketing spend to raise visibility.

Explanation:

In simple words, the best way for the company to hold their position in the market is to strengthen their customer base and this can be done by performing more promotion. By doing so, they can attract more people to use their product and the new company will have to try harder to capture the market.

Thus, the best option for the company is to raise promotional activities.

6 0
2 years ago
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