In a transaction for the sale of a warehouse, Standard Storage Company tells Tri-County Investment Corporation that the office furniture is included. The contract says nothing about office furniture, but does state, "This document supercedes all oral promises relating to the sale." Is the furniture part of the sale? Why or why not?
What will be an ideal response?
No, the furniture is not part of this deal. Under the parol evidence rule, if a writing that is integrated, or constitutes the parties' entire agreement, includes a clause that no oral statements are incorporated, then no evidence of prior negotiations, prior agreements, or contemporaneous oral statements may be used to change the terms. In other words, a party cannot introduce in court evidence of any contradictory negotiation or agreement that occurred before the contract was formed or any contradictory oral agreements that were made at the time the contract was formed. Thus, here, the fact that the written contract did not mention the furniture and the clause in the document stated it superceded any oral promises means that the parties do not have a deal for the furniture.
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The tendency to overlook the importance of situational factors in favor of cultural explanations is known as the cultural ________ error.
Fill in the blank(s) with the appropriate word(s).
Multiple regression was used to forecast success in college (GPA) based upon SAT score, high school GPA, and hours spent on-line
Use the regression output shown and comment on the overall fit of the model, the usefulness of each independent variable, and the value to an admissions department of using the model to make admission decisions. What is the model's forecast for an applicant having a high school GPA of 2.5 and an SAT score of 1000 that spends 20 hours a week on-line? What other variables do you feel would make good indicators of college GPA? What will be an ideal response?
The Secure and Fair Enforcement of the Mortgage Licensing Act of 2008 provides mortgage relief for home buyers who secured their mortgages prior to January 2007
Indicate whether the statement is true or false
Leonesio Corporation makes a product that uses a material with the following standards: Standard quantity 8.2 kilos per unitStandard price$4.00per kiloStandard cost$32.80per unitThe company budgeted for production of 3,100 units in August, but actual production was 3,200 units. The company used 27,600 kilos of direct material to produce this output. The company purchased 29,000 kilos of the direct material at a total cost of $118,900. The direct materials purchases variance is computed when the materials are purchased.The materials price variance for August is:
A. $2,624 U B. $2,900 F C. $2,900 U D. $2,624 F