A balance sheet prepared according to U.S. GAAP lists assets from most liquid to least liquid, where liquid refers to the ease of converting the asset into cash
Indicate whether the statement is true or false
T
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If an agent exceeds his or her scope of authority, a principal is bound on the contract only if he or she ratifies the contract
Indicate whether the statement is true or false
Which of the following is not one of the general sources of international law?
A) United Nations resolutions B) A convention among countries C) Judicial teachings D) Custom E) A treaty between countries
The legal doctrine of foreign sovereign immunity is concerned with:
a. the ability of foreign countries create new courts b. the degree to which foreign countries maintain trade laws c. barring foreign investors from collecting damages in host countries d. barring US courts from exercising jurisdiction over foreign governments or their agencies e. none of these
Turtle World orders 200 small sea turtles from Reptile World. After the sea turtles had been identified to the contract but before the risk of loss had passed to Turtle World, the turtles were released into the ocean by a militant animal rights group who broke into Reptile World to set the animals free. Under this scenario
A. Turtle World cannot successfully sue because the contract is void. B. Turtle World can cover, then win a judgment against Reptile World for the difference between the contract price and the cover price, plus incidental and consequential damages, minus expenses saved. C. Turtle World can successfully sue for specific performance because sea turtles are everywhere. D. Turtle World is entitled to a judgment for compensatory damages, but not consequential damages.