Either party may demand rescission of a fully executed oral contract if it was required to have been in writing under the Statute of Frauds.
Answer the following statement true (T) or false (F)
False
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The Clydesdale Company has sales of $4,500,000. It also has invested assets of $2,000,000 and operating expenses of $3,600,000. The company has established a minimum rate of return of 7%. What is Clydesdale Company's residual income?
A) $252,000 B) $900,000 C) $1,400,000 D) $760,000
When direct labor and overhead enter the production process at different rates, it is appropriate to use a conversion cost per equivalent unit.
Answer the following statement true (T) or false (F)
Nepotism and word of mouth hiring:
a. are specifically prohibited by Title VII because of their potential to produce discriminatory effects b. are not optimal recruiting procedures, but they raise no significant legal issues c. tend to produce discriminatory effects, depending on how racially homogeneous an employer's existing workforce is d. have been subjected to numerous legal challenges, but have been consistently upheld under Title VII e. none of the above
Sue Thompson received a home "cold-canvas" sales call at her home from a representative of the Enlightened Encyclopedia Company. The salesperson, after a rather aggressive presentation, convinced Sue to order a $1,200 Deluxe Encyclopedia set for her two
children. Sue was impressed with the quality of the books, but shortly after signing the contract, she realized that she could not really afford to make the required monthly payments. What rights, if any, does Sue have in this situation?