Carl, a contractor, has a contract with Ron, a realtor, to construct a new condominium complex. The contract provides that Carl must furnish a certificate of occupancy and conformity with the local fire code before Ron has an obligation to pay. The furnishing of the certificate is an implied-in-fact condition subsequent to the construction of the building
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
Fletcher Company collected the following data regarding production of one of its products. Compute the fixed overhead cost variance. Direct labor standard (2 hrs. @ $12.75/hr.)$25.50 per finished unitActual direct labor hours 81,500 hrs.Budgeted units 42,000 unitsActual finished units produced 40,000 unitsStandard variable OH rate (2 hrs. @ $14.30/hr.)$28.60 per finished unitStandard fixed OH rate ($336,000/42,000 units)$8.00 per unitActual cost of variable overhead costs incurred$1,140,000 Actual cost of fixed overhead costs incurred$338,000
A. $18,000 unfavorable. B. $18,300 favorable. C. $18,000 favorable. D. $14,300 unfavorable. E. $18,300 unfavorable.
Robert, a minor, buys a stereo from Jane for $200 . State law allows a minor to disaffirm contracts within a reasonable time after turning 18 . Robert disaffirms the contract the day after turning 18 and returns the stereo
a. This contract was a valid contract, Robert cannot disaffirm. b. This contract was a voidable contract, Robert can disaffirm. c. This contract was a void contract. d. This contract was unenforceable because it needed to be in writing to be enforceable.
A random sample of 64 SAT scores of students applying for merit scholarships showed an average of 1400 with a standard deviation of 240. The 95% confidence interval for the population mean SAT score is
A. 1340.06 to 1459.94. B. 1341.20 to 1458.80. C. 1349.93 to 1450.07. D. 1320.32 to 1479.68.
Boilerplate language in a contract that excludes a warranty, and is inconsistent with other warranty discussion, is invalid
a. True b. False Indicate whether the statement is true or false