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Dennis_Churaev [7]
2 years ago
11

Eagle Corporation solicited bids for various parts it uses in the manufacture of jet engines. Eagle received six offers and sele

cted the offer of Sky Corporation. The written contract specified a price for 100,000 units, delivery on June 1 at Sky's plant, with payment on July 1.On June 1, Sky had completed a 200,000 unit run of parts similar to those under contract for Eagle and various other customers. Sky had not identified the parts to specific contracts. When Eagle's truck arrived to pick up the parts on June 1, Sky refused to deliver claiming the contract price was too low. Eagle was unable to cover in a reasonable time. Its production lines were in danger of shutdown because the parts were not delivered.Eagle would probablyA. Have as its only remedy the right of replevin.B. Have the right of replevin only if Eagle tendered the purchase price on June 1.C. Have as its only remedy the right to recover dollar damages.D. Have the right to obtain specific performance.
Business
1 answer:
Anna71 [15]2 years ago
5 0

Answer:

The answer is: C) Have as its only remedy the right to recover dollar damages.

Explanation:

Since Sky breached its contract with Eagle, Eagle can sue Sky for money damages.  

They can not seek a writ of replevin since the 100,000 units included in the contract were not unique nor identified. They were part of a much larger production lot of 200,000 units intended for various customers.

They also can't seek to obtain specific performance due to the same reasons as before, the units were not specific nor identified and other customers also need them.

You might be interested in
Phips Co. purchases 100 percent of Sips Company on January 1, 20X2, when Phips' retained earnings balance is $320,000 and Sips'
Taya2010 [7]

Answer:

Phips' post-closing retained earnings balance on December 31, 20X2 = $577,000

Explanation:

Note: When 100% shares of a company is acquired it is treated as subsidiary and for its accounting equity method is used.

In that case all balances of subsidiary are added to balances of Parent company.

But if any dividend is received then such value is deducted from carrying value of investment, and any share in profit will be added to carrying value.

All the retained earnings balance is accumulated together of both companies.

Therefore closing balance shall be

Retained earnings balance of Sips at year end

= $120,000 + $20,000 - $8,000 = $132,000

Year end balance of Phips Alone

= $320,000 + 125,000 = $445,000

Total Retained Earnings at year end = $132,000 + $445,000 = $577,000

3 0
2 years ago
Based on your observations of connective tissue in Experiment 2, which statement explains the difference between loose and dense
zaharov [31]

The difference between loose and dense connective tissue is there is much more space between the fibers and cells in loose connective tissue than in dense connective tissue.

Option D

Explanation:

The two types of conjunctive tissue found in animals are the loose and compact connective tissues.

Connective tissue primarily serves soft bodies structurally. It also facilitates the provision of the epithelial tissue of nutrients and oxygen.

Elastic conjunctive tissue includes fibres that are elastic, whereas thick connective tissue comprises tightly structured fibres. Therefore the principal difference in the density of the extracellular matrix in each type of conjunctive tissue is between loose and dense binding tissue.

6 0
2 years ago
Simone applies for a mortgage loan from National City Bank. National City Bank's description of the various charges and penaltie
Vlad [161]

Answer:

True.

Explanation:

Consumer Credit Protection Act is a law of United Stated which was enacted in 1968. This act protects the consumer against the lenders. This law set out how credit is managed on the purchases of consumer.

National City Bank has confused Simone by briefing about several mortgages and penalties of the loan. Simone is unable to identify whether mortgage loan is better option or she should consider other banks. This has violated the Consumer Credit Protection Act.

4 0
2 years ago
Carol has worked for Centrum Springs, Inc., for many years and has now been given the opportunity to advance in the company. Her
Anna35 [415]

Answer:

To be a manager, Carol has to do some activities:

Controlling, organizing, planning and leading.

8 0
2 years ago
On January 1, Pacer Corporation issued $2,000,000, 13%, 5-year bonds with interest payable on July 1 and January 1. The bonds so
wel

Answer:

Option E, is correct as effective interest $ 120,839

Explanation:

The coupon interest payable semi-annually is computed thus:

Semi-annual coupon =13%/2*$2000000

                                  =$130,000

However the bond was issued at  premium, using effective interest the first interest payment is calculated on the actual issue value of the bond of $2,197,080 using the market rate of interest

effective interest=11%/2*$2,197,080

                           =$ 120,839.40  

Hence,the interest expense based on effective interest is  $120,839 rounded to the nearest whole number

Option D is wrong because the effective interest is a semi-annual interest not an annual one.

7 0
2 years ago
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