Abby hires a contractor to make repairs on her house. Before the repairs are finished, Abby dies. Her good friend, Clay is appointed executor of Abby's estate. Clay orally promised that if the estate could not pay the repair bill, he would pay it even though he does not live in the house and has no entitlement under Abby's estate. If the contractor's bill does not get paid, who can the contractor
collect from, if anyone?
a. The contractor can collect from either the estate or Clay.
b. The contractor can collect from the estate only.
c. The contractor can collect from Clay only.
d. The contractor must collect from the estate first, and then collect any deficiency from Clay.
b
You might also like to view...
All the interest income on U.S. Treasury bills is recorded at maturity
Indicate whether the statement is true or false
In general, as inventory is added in steady increments, ______.
a. a firm’s fill rate decreases but at a decreasing rate b. a firm’s fill rate increases but at an increasing rate c. a firm’s fill rate decreases but at an increasing rate d. a firm’s fill rate increases but at a decreasing rate
Sales revenue growth, gross margin growth, and return on investment are the key performance indicators for the ________
A) financial perspective B) customer perspective C) internal business perspective D) learning and growth perspective
If the data needed to set up a simulation are available in company records, the technique used to obtain them is called ________
Fill in the blanks with correct word