Contrast objective impossibility with commercial impracticability
Objective impossibility refers to those situations in which the contract absolutely can no longer be performed. It is a strict common law rule that applies in only three cases. Commercial impracticability is a UCC (Uniform Commercial Code) that takes the harshness out of the common law rule. It recognizes that in certain cases unanticipated events that would cause excessive hardship and risk to life and health would excuse performance.
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Pickrel Corporation is an oil well service company that measures its output by the number of wells serviced. The company has provided the following fixed and variable cost estimates that it uses for budgeting purposes. Fixed Element per Month Variable Element per Well ServicedRevenue $5,500Employee salaries and wages$53,700 $1,300Servicing materials $600Other expenses$34,400 When the company prepared its planning budget at the beginning of November, it assumed that 27 wells would have been serviced. However, 31 wells were actually serviced during November.The amount shown for "Employee salaries and wages" in the planning budget for November would have been closest to:
A. $88,800 B. $94,000 C. $93,400 D. $81,348
What is included in the quality planning processes of the Juran Trilogy?
a. measuring the service in an effective and efficient manner b. analyzing failures that have contributed to poor quality service c. collecting data to identify service failures d. developing a delivery system
One may appropriately distribute a meeting agenda by e-mail
Indicate whether the statement is true or false
Which methods of evaluating a capital investment project use cash flows as a measurement basis?
A. Net present value, payback period, accounting rate of return, and internal rate of return. B. Accounting rate of return, net present value, and payback period. C. Net present value, accounting rate of return, and internal rate of return. D. Internal rate of return, payback period, and accounting rate of return. E. Payback period, internal rate of return, and net present value.