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Andreas93 [3]
3 years ago
8

John promised the other co-owners of the ship Sea Fairy that he would insure the ship for an upcoming voyage. However, John fail

s to insure the ship. The ship is shipwrecked in a turbulent sea. The co-owners sue John for breach of contract. Will they succeed? Assume that the co-owners did NOT give anything of value for Johns' promise.
Business
1 answer:
dalvyx [7]3 years ago
7 0

Answer:

No, since it being merely a gratuitous promise

Explanation:

The word "gratuitous" refers to something that costs nothing i.e free of cost.

A gratuitous promise refers to a promise made by one party to another to perform an act, the performance of which accrues to the benefit of the other party, wherein no consideration for performance of such an act is received.

In the given case, John made a gratuitous promise of insuring the ship to prevent any loss or damage. John failed to perform the promised act and the ship met with a sea calamity leading to wreckage and loss. Co-owners sued John against non performance.

In the given scenario, the co owners will not succeed as John wasn't bound by any contractual obligation. It was merely a gratuitous promise at his end and he was under no obligation to insure the ship as he received no consideration against his promise.

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Answer:

That we are no profit and loss position.

Explanation:

Breakeven point is the point at which the company is at no profit no loss position. If the lady is saying that we are breaking even, its one explanation is that all that we have earned has covered all of our costs. The second explanation is dependant on the fixed cost considered. If the fixed cost considered is for whole of the year and we are breaking even at the 8th month then the contribution in the next four months would be 100% profit.

5 0
3 years ago
Employees are deterred by the potential loss of certification or professional accrediation resulting from a breach of a code of
pickupchik [31]

Answer:

B) False

Explanation:

Consumers always regard employees as the company's agents. So whenever they do something wrong, their bad behavior is directly associated with the company that they work for. So any bad deed form the employees will be seen as a company's bad deed.

This will hurt both employees and employers, since no employer will want to keep an employee that acts improperly, and at the same time the employer's business will also suffer.

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3 years ago
Barger enterprises has an unusual or infrequent loss of $300,000, an unusual gain of $700,000, and a tax rate of 30%. at what am
frozen [14]
Unusual loss $(300,000)
Unusual gain $700,000
Hope this helped! If you have anymore questions, let me know and I'll answer them.
8 0
3 years ago
A demand curve shows how changes in
Eduardwww [97]
<span>A demand curve shows how changes in quantity affect price. The demand curve is a graph that will have a good or service and how the quantity purchased is related to the price point the item is set at. Overall, the relationship between demand and price are directly related and depicted on the graph. </span>
8 0
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Suppose that lenders want to receive a real rate of interest of 5 percent and that they expect inflation to remain steady at 2 p
Helga [31]

Answer:

7%

Explanation:

nominal interest rate = real interest rate + expected inflation rate

nominal interest rate = 5% + 2% = 7%

Usually the nominal interest rate has four major components:

  1. real interest rate: the net interest rate received by a lender or an investor
  2. inflation rate: the general rise in the prices of goods and services, as inflation increases, the purchasing power of a currency decreases
  3. liquidity risk premium: usually collateralized loans include a liquidity risk premium since not all assets can be easily converted to cash.
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3 years ago
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