Under article 25 of the CISG, a breach of contract resulting in such detriment to the other party as substantially to deprive him of what he is entitled to expect under the contract, is:
a. a substantial breach.
b. a material breach.
c. a fundamental breach.
d. None of the above
c
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What is a "power of sale" in connection with a mortgage?
A) A statute allowing the secured property to be sold in order to satisfy the related debt if it is not paid according to the stated terms B) A provision in a mortgage or deed of trust that allows a foreclosure process that does not involve court action C) The general principle that a mortgage or deed of trust cannot take away the borrower's legal right to sell property whether or not there is a security interest associated with it D) A provision in a mortgage or deed of trust that allows the borrower to sell the property even though the loan associated with the mortgage has not been paid off
Nonpersonal rights may be transferred without permission
Indicate whether the statement is true or false
At December 31 of the current year, a company reported the following:Total sales for the current year: $980,000 includes $160,000 in cash salesAccounts receivable balance at Dec. 31, end of current year: $160,000Allowance for Doubtful Accounts balance at January 1, beginning of current year: $7,300Bad debts written off during the current year: $5,800.Prepare the necessary adjusting entries to record bad debts expense assuming this company's bad debts are estimated to equal 1.5% of credit sales:
What will be an ideal response?
Causation in fact can be determined by use of the but for test.
Answer the following statement true (T) or false (F)