University 1. Discuss the elements of impossibility of performance and the three situations where this defense can be used. 2. Discuss commercial impracticability and its application to this case. 1. Any breach entitles the non-breaching party to sue for damages, but only a material breach discharges the non-breaching party from the contract. The policy underlying these rules is that contracts should go forward when only minor problems occur, but contracts should be terminated if major problems
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POVERTY IN AMERICA Donice Wright Excelsior College Business Ethics for Managers 523 30033567 Dr. Sharlyn Moore 21 May 2015 Introduction and situational analysis Residents of Lakewood, Ohio have seen an upsurge in people living below the poverty line. “Between 1998-99 and 2009-10, the share of Lakewood high students receiving free and reduced price lunches increased dramatically, from 9-46%.” (Shaw, 2013, p. 13). As globalization increases more immigrants and refugees are moving to areas outside
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topics which include the type of entity to become and how it affects contracts, liabilities and tax information. We must be aware that there is more than just one type of entity and determining what type of business to become can have some legal implications and therefore must be reviewed thoroughly. II. Types of Entities A. Sole Proprietorships 1. Types of Businesses 2. Potential liabilities 3. Contract responsibilities 4. Employment opportunities B. Partnerships
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Case Project 1. Revenue Recognition for Multiple-Element Arrangements- The Case of Velocity Cellular. a. Base on Criteria listed in ASC 605-25-25-5, the Activation card is considered option 2) “The activation card is a separate deliverable and a separate unit of accounting in accordance with ASC 605-25.” This is because 1) the activation card “has value on a standalone basis,” and can be “sold separately by any vendor or the customer could resell the item on a standalone basis” (Criteria
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contingent on the delivery of additional items. * Utilizing a multiple element account model or an incremental cost model to account for customer loyalty program. * When there is a loss on the first element but a profit on the second element, the company may defer the remaining costs until delivery of the second element. * The use of cost-to-cost revenue service revenue recognition is prohibited. * The completed-contract method is allowed which includes gross-profit approach. | * Contingent
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.................................1 The Elements of Inspection ............................................................................................................1 Inspection Techniques ....................................................................................................................2 Interview Techniques ......................................................................................................................2 ELEMENTS OF INSPECTION A. B. C. D. E. F. G. H. I
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BLAW 510 Notes Lecture #1 NY State Local Courts Specialty Court Main 3 Tier System County Court Family Court Court of Appeals City Court Surrogate’s Court Appellate Division Town & Village Court Court of Claims Supreme Court Town & Village You don’t have to be a licensed attorney to become a town / village judge Traffic tickets are the most cases in town/village court DWI Reckless Driving AUO Limited Criminal Jurisdiction (Jurisdiction = Authority) Misdemeanor
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general there can either be an invitation to treat or offer it is depends on the intention of the parties in each case. If the advertisement of bilateral contracts are not offers whereas advertisement of unilateral contracts are construed to be offers. In the case reference to Carlill v Carbolic Smoke Ball [1893] the advertisement is a unilateral contract was held to be an offer, this is most special. The offer is an offer must be true, rather than an invitation to treat. The invitation of treatment is
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financial reporting, what provides "the why"--the goals and purposes of accounting? a. Measurement and recognition concepts such as assumptions, principles, and constraints b. Qualitative characteristics of accounting information c. Elements of financial statements d. Objectives of financial reporting 7 .
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Contracts: A contract is an agreement that creates obligations that are enforceable by the law. A contract can either be written or spoken. There are elements to a contract that make it valid and binding. This is defined as a clear manifestation of willingness to enter an agreement made by another person with full understanding that their assent to the bargain is an invitation and is concluded. As to whether there was an offer in this case, yes there is an offer. When the salesman offered the buyers
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