A wholesaler of coffee notifies a retailer that it cannot fulfill its contractual obligation to deliver 1,000 pounds of coffee at the agreed upon price of $2.00 per pound next month because of recent price increases in coffee. The retailer may treat the wholesaler as having breached the contract and sue for damages even though the wholesaler's performance is not due until next month
a. True
b. False
Indicate whether the statement is true or false
True
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Under the statute of frauds, the writing must: be signed by the defendant; and must state with reasonable certainty the name of each party, the subject matter of the agreement, and all of the essential terms and promises
a. True b. False Indicate whether the statement is true or false
Filling customer orders received in the frozen time fence may require various considerations. Which of the following is NOT such a consideration?
a. expedited procurement of raw materials b. postponing another order c. expedited production d. skipping quality controls
All of the following are defects which limit the usefulness of the human life value approach in determining the correct amount of life insurance to purchase EXCEPT
A) The effects of inflation are ignored. B) Other sources of income for survivors are ignored. C) Earnings are assumed to remain constant. D) Earnings during the individual's productive lifetime are ignored.
Your grandparents deposit $2,000 each year on your birthday, starting the day you are born, in an
account that pays 7% interest compounded annually. How much will you have in the account on your 21st birthday, just after your grandparents make their deposit? A) $79,640 B) $101,802 C) $98,016 D) $86,058