Rolando had a written contract that he was to perform a poetry reading at a local bookstore for $300, but the bookstore made a mistake and double-booked: It had a second poet at the store at the same time
So Rolando was unable to do his reading. The bookstore said it owed Rolando nothing because he did not do his reading. What can Rolando do?
What will be an ideal response?
Answer: He can sue for damages. That is, he can sue for the $300 he lost because of the bookstore's breach of contract.
Explanation: When the bookstore failed to let Rolando go ahead with his poetry reading, it was in violation of their contract. That is, it breached the contract. In that case, Rolando was within his rights suing the store for his $300, the amount of money he lost because of the breach and the amount of monetary settlement the courts would award to the party injured by the breach of contract.
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JG Inc. recognized $690,000 ordinary income, $48,000 net Section 1231 gain, and $77,000 net capital loss this year. JG's taxable income is $690,000.
Answer the following statement true (T) or false (F)
Forty percent of the students who enroll in a statistics course go to the statistics laboratory on a regular basis. Past data indicates that 65% of those students who use the lab on a regular basis make a grade of A in the course. On the other hand, only 15% of students who do not go to the lab on a regular basis make a grade of A. If a particular student made an A, determine the probability that she or he used the lab on a regular basis.
What will be an ideal response?
A firm has a total sales of $100,000 . If its sales rise, its
a. Per unit variable costs will rise. b. Net income based on variable costing will go up more than its net income based on absorption costing. c. Fixed costs will also rise. d. Net income based on absorption costing will go up more than its net income based on variable costing.
The opening of a direct claim letter should ________
A) explain the problem in detail and justify your request B) express anger to show the reader that you are serious C) open with a clear statement of the problem or with the action you want the receiver to take D) remain vague to allow the reader to decide on a remedy for the problem