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Gelneren [198K]
2 years ago
5

7. Eva and Maria entered into a written contract pursuant to which Eva was to render decorating services for Maria for a total p

rice of $75,000. After the services had been performed, a good faith dispute arose between Eva and Maria over whether all of the services had been properly performed. Eva claimed that the full amount was due, but Maria argued that only $50,000 worth of services had been performed. After several weeks of argument, Maria sent a check for $60,000 to Eva on which Maria had written "payment in full for decorating services." (a) Eva endorsed the check, without making any further notations on it, deposited it and sued Maria for the remaining $15,000 she claims is due. Judgment for whom? Explain. (b) Instead of the facts in (a) assume that Eva wrote "under protest" on the check when she endorsed it and, after depositing it, sues Maria for $15,000. What result? Explain. (c) Instead of the facts in (a) and (b), assume that Eva and Maria had a telephone conversation in which Eva agreed to take $60,000 in full satisfaction of Maria’s obligation under the contract. Maria then sent the check, with a letter referencing the telephone conversation. Eva wrote "under protest" on the check, endorsed and deposited it, and then sued Maria for $15,000. What result? Explain.
Business
1 answer:
xxMikexx [17]2 years ago
3 0

Answer:

(a) Eva endorsed the check, without making any further notations on it, deposited it and sued Maria for the remaining $15,000 she claims is due. Judgment for whom?

Maria's debt is settled (cancelled) because Eva accepted the check and did not write "under protest" or "without prejudice" when she endorsed it. This debt was an unliquidated debt since maria and Eva did not agree on the total amount due, but since Eva cashed the check without writing down any type of notation with respect to their disagreement, the debt will be considered settles.

(b) Instead of the facts in (a) assume that Eva wrote "under protest" on the check when she endorsed it and, after depositing it, sues Maria for $15,000. What result?

If Eva wrote under protest, then she is not accepting Maria's payment. She is entitled to cash the check because she might need the money, but she is making it clear that she doesn't agree with the settlement. Eva could win the suit (that also depends on other factors not specified in the question).

(c) Instead of the facts in (a) and (b), assume that Eva and Maria had a telephone conversation in which Eva agreed to take $60,000 in full satisfaction of Maria’s obligation under the contract. Maria then sent the check, with a letter referencing the telephone conversation. Eva wrote "under protest" on the check, endorsed and deposited it, and then sued Maria for $15,000. What result? Explain.

Unless Maria can prove that Eva agreed with the $60,000 payment, then a court would not even consider the telephone call and the outcome would be similar to question (b). The problem with oral agreements is that one party will say this and the other party will say something else. You need some type of proof in order for an oral agreement concerning a $75,000 (or even $60,000) dispute to be valid.

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Records at Hal’s Accounting Services show the following costs for year 1. Direct materials and supplies $ 40,000 Employee costs
ruslelena [56]

Answer:

See answers below

Explanation:

a. Direct materials & supplies  $40,000 = $40,000 × 110%

= $44,000 × 20,000/25,000

= $35,200

Employee costs = $2,900,000 × 105%

= $3,045,000 × 20,000/25,000

= $2,346,000

Variable overhead = $600,000 × 100%

= $600,000 × 20,000/25000

= $480,000

Fixed overhead = $700,000 × 105%

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b. Total costs per unit year 2 =

$3,596,000 / 20,000

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6 0
2 years ago
A clothing manufacturer makes both shirts and shorts. The sales price for shirts is $24 with variable costs of $10 and shorts ha
Gnoma [55]

Answer:

1)They would prefer to make shorts as contribution margin per unit is higher for shorts

Explanation:

Step 1. Given information.

  • Sales price shirts is $24
  • Variable costs shirts is $10
  • Sales price shorts $32
  • Variable costs shorts $17

Step 2. Formulas needed to solve the exercise

Contribution margin = sales price - variable cost

Step 3. Calculation.

Contribution margin shirts  = 24 - 10 = 14

Contribution margin shorts = 32 - 17 = 15

Step 4. Solution.

<h2>Contribution margin shorts > Contribution margin shirts</h2>

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Advice from most financial advisers states to spend no more than 28% of one's gross monthly income for one's mortgage payment, a
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Answer and Explanation:

The computation is shown below:

a. For the maximum amount that spend each month on mortgage payment is

= Gross annual income ÷ total number of months in a year × mortgage payment percentage

= $39,600 ÷ 12 months × 28%

= $924

b. . For the maximum amount that spend each month on total credit obligatons

= Gross annual income ÷ total number of months in a year × mortgage payment percentage

= $39,600 ÷ 12 months × 36%

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c. Now the maximum amount spend for all other debt is

For monthly mortgage

= $924 × 70%

= $646.8

And, for mortgage debt

= $1,188 × 70%

= $831.60

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In France, fine dressmaking and tailoring have been a tradition predating Queen Marie Antoinette. Cloth manufacturers, design sc
swat32

Answer:

A. related and supporting industries

Explanation:

In France, industries related to high fashion have been established since the 18th century. This creates a positive feedback loop in which the participants compete amongst themselves, but also support each other, for example, forming econmies of scale and supply chains.

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Whispering Home Improvement Company installs replacement siding, windows, and louvered glass doors for single-family homes and c
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