OnTrack Rehabilitation Center signs an agreement with Platinum Bank to borrow $40,000 at 20 percent interest. Later, the state legislature passes a law lowering the maximum permissible rate of interest to 15 per¬cent. OnTrack's best argument for avoiding payment to Platinum Bank is that
a. performance of the contract is commercially impracticable.
b. payment of the loan would force the debtor into bankruptcy.
c. the law has rendered performance of the contract illegal.
d. the specific subject matter of the contract has been destroyed.
C
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Negotiators sometimes begin to rely too heavily on arbitration as a means of settling their contract disputes, rather than working hard to come to their own agreement. This is known as the chilling effect.
Answer the following statement true (T) or false (F)
The concept of designing marketing communications programs that coordinate all promotional activities - advertising, personal selling, sales promotion, public relations, and direct marketing - to provide a consistent message across all audiences is referred to as ________.
A. the media mix B. marketing by objectives (MBO) C. the promotional blend D. the marketing matrix E. integrated marketing communications (IMC)
During 2016, Frank Company incurred $200,000 in legal fees in defending a patent with a carrying value of $3,500,000 against an infringement. Farver's lawyers were successful with the defense of the patent. The legal fees should be
A) expensed in 2016 and classified as ordinary expense. B) classified as an extraordinary item on the income statement for 2016. C) capitalized and amortized over the remaining legal life of the patent. D) capitalized and amortized over the remaining economic life or legal life of the patent, whichever is shorter.
Explain what an informational report is. Then list and describe three categories of informational reports, and give an original example of each