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VladimirAG [237]
2 years ago
11

On January 1, Damon, for consideration, orally promised to pay Gary $300 a month for as long as Gary lived, with the payments to

be made on the first day of every month. Damon made the payments regularly for nine months and then made no further payments. Gary claimed that Damon had breached the oral contract and sued Damon for damages. Damon contented that the contract was unenforceable because, under the Statute of Frauds, contracts that cannot be performed within one year must be in writing.
Required:
Discuss whether Damon will succeed in this defense.
Business
1 answer:
djyliett [7]2 years ago
3 0

Answer:

In this case, a trial court would probably enforce the contract because although the statute of Frauds requires contracts for longer than one year to be willing to be enforceable, since it is possible that Gray may die within the year coupled with the showing by Damon of none months payments, the contract is enforceable. As a result, the Statute of Frauds would be enforceable because the oral contract was possible to fulfill within the one-year .

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Charles loves watching downton abbey on his local public tv station, but he never sends any money to support the station during
emmasim [6.3K]
Given that <span>Charles loves watching downton abbey on his local public tv station, but he never sends any money to support the station during its fundraising drives.

Economists would call charles a free rider.

The government can solve the problem caused by people like Charles by </span><span><span>privatize channels so viewers have to pay to view them.
</span>
The private market can solve this problem by broadcasting downton abbey on cable tv, since then the good would be excludable and thus no longer a public good.</span>
4 0
2 years ago
Gerome is the human resource manager at his company. He is systematically studying positions to determine their various elements
vekshin1

Answer:

He is engaged in job analysis.

Explanation:

6 0
1 year ago
Suppose you were hired as a consultant for a company that wants to penetrate the Comp-XM market. This company wants to pursue a
Andreas93 [3]

Answer:

Option B. Chester Company

Explanation:

The company wants to pursue Niche Cost Leader Strategy. In a Niche cost leader strategy the product is highly differentiated and the cost the company charges to its customer is low as apposed to other competitors. The companies that has highly differentiated product and are new entrants usually use this strategy to win a good share of market size.

The strongest competitor would have lowest price, very stable market share price, high investment in plant and equipment, higher production capacity, lowest return on investment, lowest earnings per dollar sales. etc.

Now we will asses different reports and conclude which competitor will be the strongest competitor for the Niche Cost Leader Strategy company. The analysis is given as under:

  • <u>Lowest Price:</u> If we look at the Production information, Price Column and take the average price of the products of each company then we can conclude that Chester's price of average product is $20, Baldwin has $24.17 and the rest of the competitors are charging high. This means Chester is charging lowest price.
  • <u>Stable Market Share Price:</u> The vulnerability of share price of Chester is the lowest which stands at $0.45. This means that the stock exchange values the company's share as a stable stock with least vulnerability. (See Stock Market Summary)
  • <u>Lower Return on Asset and Return on Sales:</u> If we analyze the Selected Financial Statistics then we will acknowledge that Chester also has 2nd lowest Return on Assets and Return on sales which shows that the company is charging lower prices to its customers. Baldwin is not appropriate to consider here because the company is incurring losses hence its Return on Assets and Return on Sales can not be considered as good indication.
  • <u>Higher Investment in Plant and equipment:</u> The company has 2nd highest investment in plant and equipment with highest Net Book Value of $148k and Baldwin stands at $178k. Now again the higher investment of Baldwin is financed by debt which costs the company more than Chester. This means Chester would be strongest competitor because the company will have to only bear the depreciation cost which is non cash flow in nature and not the interest cost which Baldwin is bearing. (See Income statement for Interest Cost and Balance sheet for Carrying value of the asset).
  • <u>Production Capacity:</u> Chester has the highest production capacity which means that the company despite its 2nd largest investment in plant and equipment. This means that the plant and machinery of Chester is more innovative which is the reason that the production capacity is higher than other competitors.

From the above analysis it seems that Chester is pursuing Niche Cost Leader Market and is the strongest competitor that the company will face. Hence B is the correct option here.

6 0
2 years ago
On January​ 1, 2019, Plenty of​ Oil, Inc. purchased an oil field that is estimated to have 20 comma 000 comma 000 barrels of oil
AysviL [449]

Answer:

$65,200,000.

Explanation:

We know,

Depreciation expense rate under unit-of-activity method = (Total cost of the asset - Residual value) ÷ Estimated usage

Therefore, Depreciation expense rate = ($80,000,000 - 0) ÷ 20,000,000 barrels of oil.

Depreciation expense rate = $80,000,000 ÷ 20,000,000 barrels of oil.

Depreciation expense rate = $4 per barrel.

As the company used 1,800,000 barrels during 2019, the depreciation expense for 2019 = 1,800,000 × $4 = $72,000,000

For 2020, the depreciation expenses = 1,900,000 × $4 = $76,000,000

Therefore, accumulated depreciation after December 31, 2020 = $72,000,000 + $76,000,000 = $14,800,000.

Therefore, book value reported on the balance sheet as of December​ 31, 2020 = $80,000,000 - $14,800,000 = $65,200,000.

3 0
2 years ago
True or False: Using specific position titles in ICS helps to describe the responsibilities of the position.
Mila [183]

Answer:

True

Explanation:Using specific position titles in ICS helps to describe the responsibilities of the position.

5 0
2 years ago
Read 2 more answers
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