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fenix001 [56]
2 years ago
12

Portraits. Belinda, a famous portrait painter, agreed to paint Harry's portrait for $5,000. She also agreed to paint the portrai

ts of Michelle's two Welsh Corgi dogs, Baby and Bree. Michelle agreed to pay Belinda $12,000 for the portraits. Belinda charged Michelle more because dogs annoyed her. Belinda met the spoiled dogs, and they really got on her nerves. Plus, she was behind on finishing Harry's portrait. Belinda, therefore, proceeded to assign the right to receive the money for the dog portraits and the duty to paint the dog portraits to her assistant, Fred. He eagerly accepted and painted the portraits. As payment for amounts she owed him for various duties, Belinda also assigned to Fred the right to receive payment from Harry. Neither the contract Belinda had with Harry nor the contract she had with Michelle expressly prohibited assignment or delegation of contractual rights and duties. Belinda finished the portrait of Harry and called him to come and pick it up. Meanwhile, a disgruntled secretary who disliked Belinda told both Michelle and Harry about the agreements with Fred. Michelle was furious and refused to pick up the portrait or pay anyone. Harry likewise refused to pay for his portrait claiming that the right to payment could not be assigned. What would be the most likely result if Fred sues Michelle for the $12,000 payment?
Business
1 answer:
Otrada [13]2 years ago
6 0

Answer:

Fred will win because the right to receive payment could be validly assigned.

Explanation:

all contract gives room for some certain rights and duties. By an obligation, the individual whose right it is to receive payment will transfer the right to collect that same payment from the same person (obligor) to any other person (third person).

Going by the question above Belinda, the well-known portrait painter is the obligee who transfers the right to receive payments from the obligors to a third party named Fred who is stands as an assistant. It was clearly stated in the question that “Belinda also assigned to Fred the right to receive payment from Harry. Neither the contract Belinda had with Harry nor the contract she had with Michelle expressly prohibited assignment or delegation of contractual rights and duties.”

Going by this above statement then one can confirm it very clear that the payment could be assigned and receiving the payment is within Fred’s right.

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Brad will graduate next year. When he begins working, he plans to deposit $6000 at the end of each year into a retirement accoun
Dovator [93]

Answer:

$92,8571.7937

Explanation:

The computation of the amount after 40 deposits is shown below:

= (((1 + interest rate)^number of years - 1) ÷ interest rate)× principal

= (((1 + 0.06)^40-1) ÷ 0.06) × $6,000

= $92,8571.7937

We simply applied the above formula and the same is to be considered

We considered all the things given in the question

8 0
2 years ago
People end up tossing 12% of what they buy at the grocery store (Reader's Digest, March, 2009). Assume this is the true populati
Marina CMI [18]

Answer:

Consider the following calculations

Explanation:

People end up tossing 12% of what they buy at the grocery store (Reader's Digest, March, 2009). Assume this is the true population proportion and that you plan to take a sample survey of 540 grocery shoppers to further investigate their behavior.

a- Show the sampling distribution of ( p¯ ), the proportion of groceries thrown out by your sample respondents

sampling distribution of ( p¯ ) is normal with

mean = 0.12   and

standard error = sqrt(p(1-p)/n) = sqrt(0.12*0.88/540) =0.0140

b- what is the probability that the sample proportion will be within ±.03 of the population proportion?

z value for 0.03 difference, z=0.03/0.014 =2.14

The required P= P( -2.14<z<2.14) = P( z <2.14) – P( z <-2.14)

=0.9838 - 0.0162

=0.9676

c- what is the probability that your survey will provide a sample proportion within ±.015 of the population proportion?

z value for 0.015 difference, z=0.015/0.014 =1.07

The required P= P( -1.07<z<1.07) = P( z <1.07) – P( z <-1.07)

=0.8577 - 0.1423

=0.7154

d- What would be the effect of taking a larger sample on the probabilities in parts (b) and (c)? Why?

Taking a larger sample will decrease the standard error. The probabilities in parts (b) and (c) will increase.

8 0
2 years ago
Which of the following is not associated with firms following the global standardization strategy? A. Low pressures for local re
zvonat [6]

Answer:

The correct option is D. Customize product offering and marketing strategy to local conditions

Explanation:

Global standardization strategy refers to the ability to use a particular standard of marketing internationally. In other words, it's the ability for an organization to use the same marketing strategy from one country to another country, and across various cultures.

What this means is that an organisation using the global standardization strategy will treat the world as largely one market and one source of supply with little local variation.

Therefore, the firms following the global standardization strategy will not Customize product offering and marketing strategy to local conditions .

4 0
2 years ago
Read 2 more answers
To help understand why attendance at the team's games was so poor, the atlanta falcons used marketing research to gather factual
Nataly [62]
The gathering of factual statements is an example of marketing research in its descriptive role.

<span>The descriptive role of marketing research is focused on the gathering of facts to explain the current situation of a market and/or marketing program.</span>
3 0
2 years ago
Soffia Inc. manufactures a moisturizing soap with anti-ultraviolet properties, which is sold under the brand name DewMist. The c
Lerok [7]

Answer:

Multibranding strategy

Explanation:

Multibranding strategy can be defined as a type of strategy in which a company gives its product a different brand name. It involves a producer selling different brands under the same product segment.

In Multibranding strategy there is no space for other competitors in the market. This strategy also strengthens the influence of these various products in the market.

A Multibranding strategy can lead to a great loss if it is not properly handled by the management of the organisation.

8 0
2 years ago
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