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BartSMP [9]
2 years ago
13

Houston repeatedly promised his daughter, Allyson, that he would pay one-half of the costs for Allyson to attend a private, hist

orically African-American college or university. Relying on this promise, Allyson applied to and was accepted into Clark Atlanta University. Houston reiterated this promise after Allyson’s acceptance and specifically agreed to pay one-half of the costs of her tuition, room, board, books, and other expenses at Clark (less certain scholarship, work study, and grant monies). Allyson relied on this reiterated promise and, forgoing opportunities to apply to and enroll in other colleges or universities of significantly less cost, enrolled in Clark. Houston nevertheless refused to honor his commitment. Allyson sued her father alleging promissory estoppel. Did she have a good promissory estoppels claim?
Business
1 answer:
notsponge [240]2 years ago
8 0
It is 1 3/4 because I know it
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Jesse and Francis hear some friends talking about how much money they earn using Airbnb to rent out their room on weekends when
Kitty [74]

Answer and explanation:

Rental agreements are legal documents where the landlord or owner of the property establishes to whom, what, when, and for how much a property or part of it will be leased. The landlord becomes responsible for granting conditions that allow the regular and peaceful living of the tenants within the property and the tenant becomes responsible for damages caused to the property and for the payment of rent on a regular basis established in the agreement.

<em>In Jesse and Francis's case, they hear their friends are renting their room on the weekends using an online house rental service. Under the rental agreement that would not be allowable since Jesse and Francis's friends would be leasing a property that does not belong to them. They cannot become landlords being only tenants. The real owner of the room can even evict the tenant for breaching the contract.</em>

8 0
1 year ago
Slotnick Chemical received $230,000 from customers as deposits on returnable containers during 2018. Ten percent of the containe
sesenic [268]

Answer:

$20,909.09

Explanation:

We have been given that Slotnick Chemical received $230,000 from customers as deposits on returnable containers during 2018. 10% of the containers were not returned. The deposits are based on the container cost marked up 10%.

The price after mark-up would be 100\%+10\%=110\%

To find the profit on the forfeited deposits, we will divide $230,000 times 10% by 110% as:

\text{Profit on the forfeited deposits}=\frac{\$230,000\times 10\%}{110\%}

\text{Profit on the forfeited deposits}=\frac{\$230,000}{11}

\text{Profit on the forfeited deposits}=\$20,909.0909

\text{Profit on the forfeited deposits}\approx \$20,909.09

Therefore, Slotnick realize a profit of $20,909.09 on the forfeited deposits.

7 0
2 years ago
The Department may choose to grant an exception to the examination requirement under certain circumstances. Which of the followi
soldier1979 [14.2K]

Available options are:

A salesperson who has held a valid license within the last 3 years

A broker who surrendered his broker license and has been employed as a salesperson since the surrender

A broker associate who had a valid salesperson license five years ago

A broker associate who held a broker associate license two years ago

Answer:

A broker associate who had a valid salesperson license five years ago

Explanation:

The Department may choose to grant an exception to the examination requirement under certain circumstances except "a broker associate who had a valid salesperson license five years ago."

This is because in the United States, for the real estate brokers to renew a license they need to undergo an examination as part of the requirements. However, they may be granted an exception under specific situations such as

1. When they still hold a valid license within the last 3 years

2. When they hold broker associate valid license within the last two years

3. When they are now into salesperson employment.

Hence, considering the available options, the correct answer is "A broker associate who had a valid salesperson license five years ago."

6 0
1 year ago
On January 1, Boston Company completed the following transactions (use a 7% annual interest rate for all transactions): (FV of $
kodGreya [7K]

Answer:

This question is incomplete, here's the remaining part to complete the question:

1. In transaction (a), determine the present value of the debt.

2-a. In transaction (b), what single sum amount must the company deposit on January 1,?

2-b. What is the total amount of interest revenue that will be earned?

3. In transaction (c), determine the present value of this obligation.

4-a. In transaction (d), what is the amount of each of the equal annual payments that will be paid on the note?

4-b. What is the total amount of interest expense that will be incurred?

Explanation:

a) A sum of $6,000 is to be paid at the end of each year for 7 years and the principal amount $115,000 to be paid at the end of 7th year.

PV=$6,000/(1+0.07)^1 + $6,000/(1+0.07)^2 +$6,000/(1+0.07)^3 +$6,000/(1+0.07)^4 +$6,000/(1+0.07)^5 +$6,000/(1+0.07)^6 +$6,000/(1+0.07)^7 +$115,000/(1+0.07)^7

PV=$5,607.47 + $5,240.63 + $4,897.78 + $4,577.37 + $4,277.91 + $3,998.05 + $3,736.49 + $71,616.22

PV=$103,951.92

b) Let the single sum that will grow to $490,000 at 7% interest per annum at the end of 8 years be X

FV=PV(1+i)^n

$490,000 = X(1+0.07)^8

Thus,

X= $490,000/(1.07)^8

X = $490,000/1.7182

X = $285,182

Thhus, a single sum of $285,182 needs to be deposited for 8 years at 7% interest p.a.

The total amount of interest revenue is ($490,000-$285,182) = $204,818

c) PV = $75,000/(1.07)^1 + $112,500/(1.07)^2 + 150,000/(1.07)^3

PV = $70,093.45 + $98,261.85 + $122,444.68

= $290,800

FV =$75,000*(1.07)^1 + $112,500*(1.07)^2 + 150,000*(1.07)^3

= $80,250 + $85,867 + $91,878

= $257,995

d) The cost of the machine is $170,000. Immediate cash paid $34,000. Loan Amount is ($170,000-$34,000)=$136,000

The PVA factor at 7% p.a compounded annually for 5 years is 4.1002

Thus, the PMT = 136,000/4.1002

= $33,169

Thus, the amount of each annual payment is $33,169 for 5 years.

The total amount to be paid is ($34,000+$33,169*5)

=$34,000+$165845

=$199845

The interest expense is ($199845 - $170,000)

= $29,845

6 0
2 years ago
Which of these is NOT an assumption that is made with regard to the basic EOQ inventory model? A. Annual demand requirements are
asambeis [7]

Answer:

The correct answer is letter "B": Variation in both demand and lead time exists, and is known.

Explanation:

The Economic Order Quantity (EOQ) is a method to keep track of inventory based on several assumptions. According to the EOQ <em>demand is known, constant and independent; lead time is known and constant</em>; inventory receipts are immediate and complete; discounts on amounts are not feasible; and, stock-outs can be avoided absolutely.

6 0
1 year ago
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