Teatro Restoration, Inc, begins renovating an old theater for Urban Edge Productions, but after three months Teatro demands an extra $250,000. Urban Edge agrees to pay. Refer to Fact Pattern 12-4. If Teatro offers no reason for the extra $250,000, but says only that it will stop work if it is not paid, the agreement is
A) enforceable as the consideration is past
B) ?enforceable because of unforeseen difficulties.
C) ?unenforceable as an illusory promise.
D) unenforceable due to the preexisting duty rule.
D
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A responsibility accounting/reporting system includes the following:
a. upward reporting of information b. aggregation of data as it flows upward c. appropriate information detail for each decision maker d. All of the above
On the December 31, unadjusted trial balance, the balance of the Supplies account is $500 . If only $50 in office supplies remain at the end of the accounting period, what will be the amount of the adjusting entry debit to the Supplies Expense account?
a. $450 b. $500 c. $550 d. $400 e. None of the above
On the BCG Matrix, ________ ________ are products that have a low market share in an industry with high growth rates.
Fill in the blank(s) with the appropriate word(s).
"Jamel, I agree with your recommendation to purchase the new instrument, even though we could develop and manufacture it internally. A purchase will be most ________, as long as you recognize that others will have it as well; in other words, it will not offer a ________," said Phillip Jones, operations manager.
A. time-consuming; price advantage B. cost-effective; time advantage C. cost-effective; competitive advantage D. time-consuming; time advantage E. time-consuming; competitive advantage