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ANEK [815]
2 years ago
12

Ron operates a garbage pickup business. he contracts to pick up garbage from an apartment complex for the next 52 weeks at a pri

ce of $150 per week. unexpectedly, the landfill center where ron takes the garbage to dispose of it, files for bankruptcy. as a result, ron must travel an additional 100 miles to the nearest landfill center, turning ron's expected profit into a loss of $40 per week. ron's best argument in support of his petition to be discharged from the contract is
Business
2 answers:
blsea [12.9K]2 years ago
6 0

Answer: His argument would be “Discharge by Frustration”

Explanation: There are basically four ways by which a contract can be discharged which includes;

Performance

Agreement

Repudiation and

Frustration

When a contract becomes impracticable from either or both parties to the agreement then it would have to be discharged. In this instance, it is not by agreement, there was no deliberate breach of contractual agreement, and neither is it because the terms of the contract have been fulfilled, but rather because some current unforeseen circumstances have made it impossible for the terms to be fulfilled.

There was an unforeseen event that prevented Ron from continuing with the contractual relationship with his clients, namely the relocation of the landfill to a farther distance. This is beyond his control and continuing with that arrangement would turn his expected profits into losses.

In order not to suffer avoidable losses and possible bankruptcy, Ron has the option of petitioning to be discharged from the contract on the basis of frustration of his efforts.

liq [111]2 years ago
4 0

Answer:

The options are given below:

A. the mail box rule.

B. commercial impracticability.

C. frustration of purpose.

D. true impossibility.

The correct option is B

Explanation:

Commercial impracticability refers to a situation whereby an event occurs which makes the performance of a contractual duty excessively burdensome, unbearably difficult, or extremely expensive, for the party committed to such performance.

As can be seen from the scenario given above, Ron will be incurring a loss of $40 were he to continue with the contract, this loss has rendered the contract commercially impracticable, and therefore, this will be Ron's best argument in support of his petition to be discharged from the contract.

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You have $12,500 you want to invest for the next 30 years. You are offered an investment plan that will pay you 7 percent per ye
Alchen [17]

Answer:

Future value= $151,018.51

Explanation:

Future value of money measures how much a present amount of money will be in the future at a given interest rate.

The interest gained on money shows the time value of money. One dollar today is less than one dollar in one year's time

The formula for future value is

Future value = Present value * (1 + rate)^time

As we have two periods in this case (10 years and 20 years)

Future value = Present value * {(1 + rate1)^time1} * {(1 + rate2)^time2}

Future value = 12,500 * {(1 + 0.07)^10} * {(1 + 0.095)^20}

Future value= $151,018.51

4 0
2 years ago
Dayna deposited $2700 into a savings account that pays a simple annual interest rate of 1.6%. how much interest will she earn af
d1i1m1o1n [39]
For this you're going to use the I=PRT formula!  so i=interest, p=principal, r=rate, and t=time (in years). so basically here we are going to plug in the equation, I=(2700)*(0.016)*(0.5) and we get 21.60!  I=PRT is a simple interest formula, which is used for the simple plug and chug equations like this.  Just remember to convert months to years and move over your decimals!
6 0
2 years ago
Pete has started an electronics firm with the potential for high growth. he obtains funding for the business from a group of inv
TiliK225 [7]
The type of financing that Pete has secured is VENTURE CAPITAL. Venture capital is a type of private equity, a form of financing that provides funds by private investors to new companies with high potentials or emerging companies that are deemed to have high potentials. In return for the money provided by the private investors, they become part owners in the company.
7 0
2 years ago
What are the pros and cons of Toyota’s structure and what are the most important elements of Toyota’s organizational structure??
AVprozaik [17]
In 2013, Toyota changed its organizational structure from the centralized structure to:
- the Global hierarchy,
- the Geographic divisions, and
- the Product-based divisions.

This change was made to adapt the consumer's demand in each of the regional markets all over the world. The most important element of this structure is the speed of handling issues and problems of all Toyota's branches. However, this structure also has a weakness which is the decreasing of headquarter's control over the global organization.
5 0
2 years ago
Falmouth Corporation's debt to equity ratio is 0.6. Current liabilities are $120,000, long term liabilities are $360,000, and wo
Digiron [165]

Answer:

$1,280,000        

Explanation:

We know that

Debt to equity ratio = Debt ÷ total equity

0.6 = $360,000 + $120,000 ÷ total equity

0.6 = $480,000 ÷ total equity

So, the total equity = $800,000

In the balance sheet, the assets, liabilities, and stockholder equity is recorded. In this the accounting equation is used which is shown below:  

Total assets = Total liabilities + stockholder equity  

                    = $480,000 + $800,000

                    = $1,280,000

8 0
2 years ago
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