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Dimas [21]
3 years ago
11

Contracts are typically private agreements in that they bind the two parties and no one else. Thus, parties not in privity of co

ntract usually do not have rights to a contract. However, there are exceptions to the general rule. This activity outlines the importance of paying special attention to ramifications that result from assigning or delegating a contract, including the effects these actions have on assignees. Read the case and then answer the questions to create a strategy for how someone might determine the results of the scenario. Katerina owned property in Miami right on the beach that she leased to Scotty. Scotty used the property for business purposes, which was allowed under the lease. Three months into the lease, Scotty transferred his lease to a sports agent company for $5,000, which became the new tenant under the lease. Katerina became upset with Scotty's transferring of the lease because she thought that since she leased the property to Scotty, he should not be allowed to let anyone else lease the property. Furthermore, she had a strong aversion to sports agents after watching the movie Jerry Maguire, and she did not want any money-grubbing sports agents working on her property. Subsequently, Katerina wonders whether there is any way she can limit the ability of Scotty to transfer the lease. Walk through the different types of transferring of rights and duties. What type of transfer of rights or duties is described in this case
Business
1 answer:
umka2103 [35]3 years ago
4 0

Answer:

The type of transfer of rights or duties described in this case is an assignment of contract rights.

Explanation:

Transfer of contract rights or duties may be either the assignment or the delegation of contractual rights and responsibilities to a third party.  While assignment involves the transfer of rights or benefits from the assignor to the assignee, delegation involves the appointment of another party to perform one's duties under a contract.

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1 - At the Montell Company, functions are divided into areas of specialization such as production, marketing, accounting, and fi
Sedbober [7]

At the Montell Company, since the functions are divided into areas of specialization such as production, marketing, accounting, and finance, it reflects Fayol's principle of <u>division of labor. </u>

Max Weber used the term <u>bureaucrats</u> to describe middle managers. Their job is usually to implement the orders that they get from top management.

It should be noted that division of labor is when the roles that'll be performed in an organization are divided into various departments. This is done in order to make the job easier and faster.

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7 0
2 years ago
Which of the following represents a business process you would find in the Operations Management departmenta. rdering inventoryb
Rudik [331]

Answer:

a. Ordering inventory.

Explanation:

Operation management is an adminstration job for designing, producing, controlling and delivering the goods and service to the end user with highest use of efficiency within the organization. This help the organization to maximize the profit with optimum utilization of resources. Inventory management is also part of operations management, wherein inflow and outflow of inventory are managed, which include storage, ordering, labeling, issuing, withdrawing etc.

6 0
2 years ago
What is accountability
Rama09 [41]

Accountability is a promise that a person or a group will be judged on how they perform or behave in relation to anything for which they are accountable.

Though more from the standpoint of oversight, the phrase refers to accountability. For instance, an employee might be in charge of making sure that a response to an RFP (request for proposals) complies with all the standards. Consequences may or may not occur if the work is not completed satisfactorily. Accountability, on the other hand, indicates that the worker is required to successfully complete the task and will need to at least justify their failure.

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5 0
1 year ago
You recently purchased a stock that is expected to earn 20 percent in a booming economy, 15 percent in a normal economy, and los
ICE Princess25 [194]

Answer:

Expected rate of return on stock is 14.86%

Explanation:

The expected rate of return of a stock is the mean return that is expected to be earned by the stock considering the different scenarios that can occur, the return in these scenarios and the probability of the occurrence of these scenarios. The formula for expected rate of return of stock is,

rE = pA * rA  +  pB * rB  +  ...  + pN * rN

Where,

  • pA, pB, ... represents the probability that scenario A, B and so on will occur or the probability of each scenario
  • rA, rB, ... represents the return in scenario A, B and so on

rE = 0.21 * 0.2  +  0.72 * 0.15  +  0.07 * -0.02

rE = 0.1486 or 14.86%

8 0
3 years ago
Assume that the City of Juneau maintains its books and records to facilitate the preparation of its fund financial statements. T
ra1l [238]

Answer:

Debit Expenses $90,000; credit Accrued wages and salary $90,000

Explanation:

If we assume that the City of Juneau maintains its books and records to facilitate the preparation of its fund financial statements. The employees paid from the general fund had earned $90,000 on Monday, Tuesday, and Wednesday (June 28, 29, and 30).

The entry, if any, should be made in the city’s general fund on June 30 is to: Debit Expenses $90,000; credit Accrued wages and salary $90,000

The amount has been incurred in the month but has not been paid hence it has to be captured as expenses for the month of June while the double entry will be that the amount is captured as accrued wages signifying that it has not been paid within the period it was incurred

5 0
3 years ago
Read 2 more answers
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