Identify and describe the four principal contract interests a court may seek to protect
The four principal contract interests a court may seek to protect are:
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a. Expectation interest. The intent is to put the injured party in the position he would have been in if both parties had fully performed their obligations. Expectation damages include compensatory, consequential, and incidental damages.
b. Reliance interest. The intent is to put the plaintiff in the position he would have been in if the parties had never entered into a contract.
c. Restitution interest. The objective is to return to the injured party a benefit that he has conferred on the other party which it would be unjust to leave with that person.
d. Equitable interest. When money damages are insufficient to help the injured party, an equitable remedy, such as specific performance or an injunction, may be ordered.
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Indicate whether the statement is true or false
Answer the following statement(s) true (T) or false (F)
1. The elements of the accounting equation (assets, liabilities, and owners’ equity) are reflected in the balance sheet and the income statement. 2. A balance sheet indicates the firm’s financial position as of a particular point in time. 3. Cash, inventory, and store equipment are all included in current assets. 4. All long-term assets, including land, are depreciable. 5. Working capital is the difference between current assets and current liabilities.
Xion Industries is a private firm, but it experiences both direct and indirect control from the government to influence the strategies it uses. In addition, it finds it advantageous to maintain political ties with the government in order to gain access to resources. Of the United States, Japan, China, and Germany, it is most likely that Xion is based in China.
Answer the following statement true (T) or false (F)
Explain situational interviews. What are the two varieties of situational judgment items?
What will be an ideal response?