Fact Pattern 12-2ACut-Rate Construction Company (CCC) begins building a restaurant for Diners Restaurants, Inc., but after two months demands an extra $100,000. Diners agrees to pay.Refer to Fact Pattern 12-2A. If CCC offers no reason for the extra $100,000, but says only that it will otherwise stop construction, the agreement is
A. enforceable as an accord and satisfaction.
B. enforceable because of unforeseen difficulties.
C. unenforceable as an illusory promise.
D. unenforceable due to the preexisting duty rule.
Answer: D
You might also like to view...
Assuming the results of operations is the same for both companies, which of the following closing entries for a partnership would not be identical to the closing entries for a sole proprietorship?
a. Closing revenues to Income Summary; b. Closing expenses to Income Summary; c. Closing Drawing to Capital; d. All closing entries would be the same; e. No closing entries would be the same.
A bank reconciliation contains all of the following items except ________
a. cash balance according to the bank statement b. adjusted balance at the end of the month c. stockholders' equity balance at the beginning of the month d. cash balance according to the depositor's records
The Internet was designed for maximum efficiency and security by providing for error checking to ensure that the message was sent and received correctly, user authentication, and access control
Indicate whether the statement is true or false
________ are instructions and information sent to objects in the expectation that the recipient objects will carry out certain actions
A) Messages B) Data C) Bits and bytes D) Orders