The ________ states that if the main purpose of a transaction and an oral collateral contract is to provide pecuniary benefit to the guarantor, the collateral contract does not have to be in writing to be enforced
A) merger clause
B) leading object exception
C) collateral contract rule
D) parol evidence rule
B
You might also like to view...
Common allocation bases are
A. direct labor dollars, direct labor hours, and direct material dollars
B. direct labor dollars, direct labor hours, and machine hours
C. direct labor dollars, direct labor hours, and machine dollars
D. machine dollars, direct labor dollars, and direct labor hours
A prospect's initial impression about a salesperson is primarily based on the salesperson's appearance and attitude.
Answer the following statement true (T) or false (F)
Hsu Company reported the following on its income statement: Income before income taxes $420,000 Income tax expense 120,000 Net income $300,000 An analysis of the income statement revealed that interest expense was $80,000. Hsu Company's times interest earned was
A) 8 times. B) 6.25 times. C) 5.25 times. D) 5 times.
Glitter Services, Inc. pays $1,350,000 to acquire 35% of voting stock of Grey Investments, Inc. on March 5, 2017. When this transaction is recorded, the ________
A) total equity will increase B) total assets will increase C) total assets will decrease D) total cash will decrease