Justin contracted with Kevin to serve as a guide for Kevin on his three-day rafting trip to Colorado. The contract was made on April 15 with the trip to begin on June 15. On May 15, Kevin notified Justin that he had changed his mind and would not be taking the trip. He also refused to pay Justin any compensation. In this case:
A) because the contract is executory, Justin has suffered no damages, and Kevin has no obligation to pay any compensation.
B) Kevin has anticipatorily repudiated the contract and is liable to Justin for damages.
C) Justin is discharged from his duty to serve as guide, but he must wait until after June 15 to bring suit against Kevin.
D) All of these.
B
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In a high-performance work system, organizational structure promotes cooperation, learning, and
A. personal discipline. B. continuous improvement. C. traditional management practices. D. improved financial performance. E. productivity in all levels of the organization.
The Consumer Product Safety Commission:
a. only has the authority to educate the public concerning product safety problems. b. uses data it gathers to set uniform product safety standards for goods such as toys and lawn mowers. c. can only make manufacturers voluntarily submit their products for testing if the product falls below its regulatory standards. d. have no enforcement powers since compliance with its regulations is left up to the manufacturer.
Jay Farnswood is the president of a local group of real estate agents. At their monthly luncheon meeting, Farnswood stood and told his colleagues that he simply could not survive by charging the 5 percent commission rate and noted, "I don't know what the rest of you are going to do, but I am going to charge 6 percent commission on all my listings starting today." Farnswood's statements: A)
constitute price fixing. B) only reflect his intentions; there is no agreement to fix prices. C) constitute an attempt to monopolize. D) None of the above
Sparacino Corporation has provided the following information: Cost per UnitCost per PeriodDirect materials$6.90 Direct labor$3.90 Variable manufacturing overhead$1.70 Fixed manufacturing overhead $25,200 Sales commissions$1.50 Variable administrative expense$0.55 Fixed selling and administrative expense $8,100 If 5,000 units are produced, the total amount of manufacturing overhead cost is closest to:
A. $24,750 B. $42,650 C. $29,225 D. $33,700