Wilmer and Grace have an executory contract for the sale of some goods. Wilmer files for bankruptcy and is then discharged by the bankruptcy court. Wilmer has no obligation to perform under the contract with Grace
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
When the Fed adopts a contractionary monetary policy, the interest rate at which the Fed lends to other banks will be expected to _____ and the money supply in the economy would be expected to ____.
A. decrease; decrease B. decrease; increase C. increase; decrease D. increase; increase
A lessor retains title to the goods and has the right to recover possession of them upon default by the lessee
a. True b. False Indicate whether the statement is true or false
The following information is available from Avalon, Inc. for the current year:
During the year, the average number of days to sell inventory was 76.1 days. Required:Calculate the following. (Round your answers to one decimal place.)a) Accounts receivable turnover ratiob) Average number of days to collect accounts receivablec) Length of operating cycled) Net cash flow from sales
What will be an ideal response?
A general partnership agreement must always be in writing to be considered legal.
Answer the following statement true (T) or false (F)