To protect the obligor or the public interest, some contract rights are not assignable
a. True
b. False
Indicate whether the statement is true or false
True
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________ is the period of slow sales growth and nonexistent profits
A) Growth B) Decline C) Maturity D) Introduction E) Stagnancy
Adonis Corporation issued 10-year, 11% bonds with a par value of $300,000. Interest is paid semiannually. The market rate on the issue date was 10%. Adonis received $318,696 in cash proceeds. Which of the following statements is true?
A. Adonis must pay $318,696 at maturity and no interest payments. B. Adonis must pay $300,000 at maturity and no interest payments. C. Adonis must pay $318,696 at maturity plus 20 interest payments of $16,500 each. D. Adonis must pay $300,000 at maturity plus 20 interest payments of $15,000 each. E. Adonis must pay $300,000 at maturity plus 20 interest payments of $16,500 each.
The mailbox rule means that:
A) Offers and acceptances must be communicated through the mail in order to be effective. B) A revocation is effective when sent. C) Offers and acceptances are effective when placed in the mail. D) A properly dispatched acceptance is effective even if the offeror never receives it.
The balances for the accounts of Milo's Management Co. for the year ended December 31 are shown below. Each account shown had a normal balance.Accounts Payable…..$ 6,500?Wages Expense………36,000Accounts Receivable...7,000?Rent Expense………...6,000Cash…………………????Office Supplies.1,200???Building…………….125,000???Supplies Expense……21,500?Land………………….50,000Common Stock………..118,700?Unearned Management Fees4,000Management Revenue. 175,000?Dividends48,000Calculate the correct balance for Cash and prepare a trial balance.
What will be an ideal response?