The UCC provides rules, where the parties do not set forth terms in their contract, to cover:
A) terms of payment.
B) place of delivery.
C) particulars of performance.
D) All of these.
D
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Luke's offshore drilling rig with a $700,000 adjusted basis is destroyed by a hurricane. He collects $620,000 from the insurance company and purchases a new drilling rig for $600,000.a.What are the tax consequences of these transactions?b.What is the basis of the new rig?
What will be an ideal response?
"Mutual agency" means that
a. a partnership has a limited life; b. any partner can bind the other partners to a contract; c. each partner is personally liable for all debts; d. partnerships are not subject to federal income taxes; e. no more than ten partners are allowed by law
In order to effectively use MPR, marketers must
A) double their advertising efforts. B) focus their attention solely on new media. C) look beyond advertising media. D) become journalists. E) bypass connectors and communicate directly to consumers.
Notification to one partner of any matter relating to partnership affairs is effective immediately as notice to the partnership
a. True b. False Indicate whether the statement is true or false