Which of the following is not a third-party beneficiary contract??
A)a contract in which A hires B to give A's niece piano lessons?
B)a contract to repair sewers in front of Macy's Department Store?
C)a life insurance contract with a named beneficiary?
D)a contract between X and Y for Y to install a new door on Z's home
B
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Pull processing involves pulling products from the consumer end (demand), rather than pushing them from the production end (supply)
Indicate whether the statement is true or false
Olive Corp. currently makes 20,000 subcomponents a year in one of its factories. The unit costs to produce are: Per unitDirect materials $12Direct labor 8Variable manufacturing overhead 12Fixed manufacturing overhead 8Total unit cost $40An outside supplier has offered to provide Olive Corp. with the 20,000 subcomponents at a $36 per unit price. Fixed overhead is not avoidable. If Olive Corp. accepts the outside offer, what will be the effect on short-term profits?
A. $80,000 decrease B. $160,000 decrease C. $160,000 increase D. $320,000 increase
Ordinarily, the remedy for a seller's breach of a contract for a sale of real estate is damages
Indicate whether the statement is true or false
Howard needs a truck to pull a 2,000-pound trailer. Gordon tells Howard, "My truck will pull a 2,000-pound trailer with ease." Relying on Gordon's statement, Howard buys the truck, but it will not pull a 2,000-pound trailer. If Gordon did not intend to deceive and Howard sues for nonfraudulent misrepresentation, he can recover:
A) punitive damages, but not out-of-pocket damages. B) out-of-pocket and consequential damages, but not punitive damages. C) out-of-pocket damages plus punitive damages. D) nominal damages, because Howard should have known the capacity of the truck.