In January, Alex promised to pay Y-K Inc $5,000 if it would refrain from filing suit against him on a breach of contract action. Y-K agreed and accepted a $5,000 check from Alex. Which of the following statements is correct?
a. Y-K's promise to refrain from suing Alex was not supported by legal consideration.
b. Y-K's promise to refrain from suing Alex was supported by legal consideration and is enforceable.
c. This is an accord and satisfaction, and Y-K cannot sue.
d. The courts would apply promissory estoppel in this situation.
b
You might also like to view...
z is a standard normal random variable. The P(-1.5 A. 0.4322.
B. 0.3621.
C. 0.7953.
D. 0.0711.
Which of the following is the most effective emotional appeal?
A) For a limited time you will receive our employee discount on any new General Motors vehicle. B) Surround yourself in the uncompromising safety and luxury of a Lincoln because you've earned it. C) Purchase a Jeep today, and you will receive a $1,500 college savings bond for tomorrow. D) Save now and save later. With its low sticker price and great gas mileage, this Focus hybrid is a best buy.
Waldren Corporation applies fixed manufacturing overhead to production on the basis of machine hours worked. The following data relate to the month just ended: Actual fixed overhead incurred: $1,245,000Budgeted fixed overhead: $1,200,000Anticipated machine hours: 240,000Standard machine hours per finished unit: 8Actual finished units completed: 31,250Required: A. Compute Waldren's standard fixed-overhead rate per machine hour.B. Determine Waldren's fixed-overhead budget variance and fixed-overhead volume variance.C. Calculate the amount of fixed overhead applied to production.D. Consider the two events that follow and determine whether the event will affect the fixed-overhead budget variance, the fixed-overhead volume variance, both variances, or neither variance. Assume that Waldren
has not yet revised its standards to reflect these events if a revision is warranted.1. A raw material shortage halted production for two days.2. An additional assembly-line supervisor was hired at the beginning of the month. What will be an ideal response?
Data concerning three of Kilmon Corporation's activity cost pools appear below:Activity Cost PoolTotal CostTotal ActivityAssembling products$150,3008,350assembly hoursDesigning products$1,177,5357,597product design hoursSetting up batches$14,400600batch set-ups??Required:Compute the activity rates for each of the three cost pools.
What will be an ideal response?