_____ is defined as that body of the law that refers to how business firms (parties) enter into contracts with each other, execute contracts, and remedy problems that arise in the process.
a. Civil law
b. Agency law
c. Commercial law
d. All of the above
e. None of the above.
c
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Lee-Ann Wang is young and enjoys risky activities such as skydiving, bungee jumping, and snowboarding. To which of the following VALS2™ groups would Lee-Ann most likely belong?
A) Thinkers B) Achievers C) Strivers D) Experiencers
Thunder Corporation is authorized to issue $500,000 of 6 percent, 10-year bonds dated July 1 . 2014, with interest payments on December 31 and June 30 . When the bonds are issued on November 1 . 2014, Thunder Corporation receives cash of $515,000, including accrued interest. The journal entry to record the issuance of the bonds would include
a. $15,000 bond premium. b. $5,000 bond premium. c. $15,000 bond discount. d. no bond premium or discount.
Under the Statute of Frauds, any contract that transfers an ownership interest in real property must be in writing to be enforceable. Describe what is meant by "real property" for purposes of the Statute of Frauds.
What will be an ideal response?
Montegut Manufacturing produces a product for which the annual demand is 10,000 units. Production averages 100 units per day, while demand is 40 units per day. Holding costs are $2.00 per unit per year, and setup cost is $200.00
(a) If the firm wishes to produce this product in economic batches, what size batch should be used? (b) What is the maximum inventory level? (c) How many order cycles are there per year? (d) What are the total annual holding and setup costs?