Answer:
purchase-money mortgage
Explanation:
This type of loan, by which the seller becomes a mortgagee, is called a purchase-money mortgage. As described, this is a mortgage issued to the borrower by the current seller of the home as part of the purchase transaction. This usually tends to occur when the buyer cannot qualify for a traditional lending channel mortgage, and in this scenario the buyer can instead become a mortgagee through a simple buying and selling transaction.
Andrea hired Jack to be the sales agent for her paintings. However, in a month's time, she terminated the agency with Jack. Harold, a customer who had dealt with Jack earlier, was not aware of the termination. Harold approached Jack to buy a painting and wrote him a check of $5,000, the advance payment for the painting which Jack promised would be delivered in two weeks. When Jack did not contact Harold later, Harold demanded that Andrea honor the contract, since Jack sold the picture as her agent. Which of the following is true of this situation?
A. Since Jack had apparent authority, Andrea is liable to honor his contract with Harold.
B. Harold's duty was to contact Andrea. His failure to do this removes her liability to honor the contract.
C. Jack had express authority as Andrea's agent, which is not terminated with the termination of their agency.
D. As Andrea terminated the agency with Jack in violation of his rights, Jack has the direct authority to sell her paintings.
Answer:
A. Since Jack had apparent authority, Andrea is liable to honor his contract with Harold.
Explanation:
The Contract defines that when two or more persons bound for a purpose legally.
Contract = Agreement + enforceble
Here as per the given situation Andrea hired Jack as the sales representative for her portraits. She suspended the organisation with Jack though, in a month's time.
Harold, a client who had previously worked with Jack, was not informed of the closure. Harold contacted Jack to purchase a painting, and gave him a $5,000 check, the painting advance payment that Jack agreed would be shipped in two weeks.
As Jack later failed to reach Harold, Harold requested that Andrea uphold the deal, as Jack sold the picture as her agent
Andrea is liable to uphold his deal with Harold, as Jack had obvious authority.
A small publishing company is planning to publish a new book. The production costs will include one-time fixed costs (such as editing) and variable costs (such as printing). The one-time fixed costs will total 49982. The variable costs will be $8.50 per book. The publisher will sell the finished product to bookstores at a price of 25.25 per book. How many books must the publisher produce and sell so that the production costs will equal the money from sales
Answer:
Break-even point in units= 2,984 units
Explanation:
Giving the following information:
The one-time fixed costs will total 49982. The variable costs will be $8.50 per book. The publisher will sell the finished product to bookstores for 25.25 per book
To calculate the break-even point in units, we need to use the following formula:
Break-even point in units= fixed costs/ contribution margin per unit
Break-even point in units= 49,982/ (25.25 - 8.5)
Break-even point in units= 2,984 units
Seneca owns an interior painting service. Seneca promises Fran, a homeowner, that Seneca will paint the outside of Fran’s house. Seneca knows that all of the painter-employees are busy for the next two months and really does not intend to paint Fran’s house. In this case, Seneca’s tortious behavior is known as:
Answer:
Promissory fraud.
Explanation:
In this scenario, Seneca owns an interior painting service. Seneca promises Fran, a homeowner, that Seneca will paint the outside of Fran’s house. Seneca knows that all of the painter-employees are busy for the next two months and really does not intend to paint Fran’s house. In this case, Seneca’s tortious behavior is known as promissory fraud.
Promissory fraud can be defined as a promise made by an individual or business entity (promisor), when in actual fact they have absolutely no intention to perform the actions or fulfil the promise when it was made the other party.
Hence, Seneca exhibited a promissory fraud because he is aware that all of the painter-employees are busy for the next two months and really does not intend to paint Fran’s house.
Which of these could be an option after high school for a person who wants to further his education but doesn't want to take out student loans?
Hi there,
I can not find the complete question to help choose an option. I wil list out a variety of answers and you would be able to choose any that suits your question.
Answer/Explanation:
As an high school leaver that wants to further his education but that doesn't want to take student loans to do it, there are a variety of option such high school leaver can choose from.
1. work and study: this simply means that the high school leaver can decide to work alongside college or university as use the money from the job to settle university bills.
2. Scholarships: Am high school leaver can try scholarship opportunities tourther his education. A scholarship can be said to be a philanthropic act by a body or individual to reward or help individuals with tuition and other things as stated in the terms and conditions.
3. Setup a funding site: an high school leaver can set up a funding site in which donations can be made to fund the higher education.
Cheers.
why does human want change over a period of time ?
Sheridan Company, had 837000 shares of common stock issued and outstanding at December 31, 2017. On July 1, 2018, an additional 40600 shares of common stock were issued for cash. Sheridan also had unexercised stock options to purchase 31400 shares of common stock at $15 per share outstanding at the beginning and end of 2018. The average market price of Sheridan's common stock was $20 during 2018. What is the number of shares that should be used in computing diluted earnings per share for the year ended December 31, 2018
Answer:
865,150 shares
Explanation:
The calculation of shares for diluted earning per share is shown below:-
Shares for diluted earning per share = Outstanding shares + Issued shares + Stock option
= 837,000 + (40,600 × 6 ÷ 12) + ((31,400 - (31,400 × $15 ÷ $20)
= 837,000 + 20,300 + 7,850
= 865,150 shares
Therefore we have applied the above formula.
"Literacy is prerequisite of development. Justify this statement with examples.
Answer:
The classification of the subject in question is mentioned throughout the paragraph below.
Explanation:
Literacy seems to be a developmental requirement since knowledge and learning require the ability or skills to read and understand. Each body produces to speak and understand skills. Upcoming generation, as well as young ones, is incredibly knowledgeable, individuals who could get strong knowledge only need a graduate assistantship.
A bagel company bakes a specialty bagel that it sells by the dozen every day. These specialty bagels can only be baked early in the morning before the store opens for business. The company estimates that the daily demand (in dozens) for its specialty bagel is distributed as follows: Specialty bagels arc sold by the dozen only at a cost of $9.00 per dozen. The cost to make one bagel is $0.50. Leftover specialty bagels arc sold by the dozen the next day for a 50% discount. The optimal number of specialty bagels that should be baked tomorrow (in dozens) is:________ a) 5 dozen. b) 4 dozen. c) 3 dozen. d) 2 dozen.
Answer:
b) 4 dozen
Explanation:
The computation of the optimal number of specially bagels i.e expected value is shown below:
As we know that
Expected value = Demand × probability
= 1 dozens × 0.10 + 2 dozens × 0.15 + 3 dozens × 0.20 + 4 dozens × 0.25 + 5 dozens × 0.30
= 0.1 + 0.3 + 0.6 + 1 + 1.5
= 3.5 dozen or 4 dozen
Hence, the correct option is b.
Margarita, age 30, used to work 80 hours a week as a corporate lawyer. this year she quit her job to take care of her five-month-old daughter. she is currently not looking for a job. the survey conducted by the bureau of labor statistics will count margarita today as choose one:
a. not in the labor force.
b. not in the working-age population.
c. a discouraged worker.
d. employed.
e. unemployed.
Answer: a) Not in the labor force
Explanation:
The category of people not in the labour force are those who either have no interest in working for someone, have retired, or has resigned(with no intentions to work for anyone). This category of persons have no interest in taking up job positions as they want to either rest, face another aspect of their life or can't work again due to their age. Margarita is in the category of those not in the labour force as she looks towards taking care of her daughter and won't be in for any job at the moment.
XYZ assigns $6,000,000 of its accounts receivables as collateral for a $2 million 8% loan with a bank. Sun Inc. also pays a finance fee of 1% on the transaction upfront. What would be recorded as a gain (loss) on the transfer of receivables
Answer:
$0
Explanation:
Data provided in the question
Account receivable assigned = $6,000,000
For Collateral = $2 million
Percentage = 8%
Finance fee = 1%
Based on the above information, the amount of gain or loss that should be recorded at the time of transfer of receivable is zero as the account receivable is used for a collateral purpose ,not for sale purpose
Therefore, the $0 should be recorded
In an inert organizational culture, poor working relationships frequently develop between the organization and its employees. the organization tries to avoid layoffs. the organization emphasizes long-term employment. employees regularly receive rewards for their performance. values and norms help the organization build momentum.
Answer:
The correct answer is: the organization emphasizes long-term employment.
Explanation:
An inert organizational culture is one that does not seek to adapt to new work processes and trends whose objective is to innovate and facilitate work and processes.
They are usually organizations whose culture is focused on more inflexible and rigid internal policies, whose focus is on the establishment of processes and does not focus on the relationships and integration of workers.
This type of organization focuses on long-term employment, which can culminate in the lack of innovation in personnel, ideas, processes and the improvement of total quality.
In an inert organizational culture, poor working relationships frequently develop between the organization and its employees the organization emphasizes long-term employment. Thus, option B is correct.
An organizational culture that is inert does not attempt to change in response to emerging trends and work processes with the aim of innovating and streamlining work and procedures.
They are often businesses whose internal rules are more strict and inflexible, whose emphasis is on establishing procedures rather than on fostering connections and worker integration.
Long-term employment is the main focus of this kind of organization, which can lead to a lack of innovation in staff, concepts, procedures, and overall quality.
Learn more about the inert organization here:
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Assume that you plan to buy a share of XYZ stock today and to hold it for 2 years. Your expectations are that you will not receive a dividend at the end of Year 1, but you will receive a dividend of $9.25 at the end of Year 2. In addition, you expect to sell the stock for $150 at the end of Year 2. If your expected rate of return is 16 percent, how much should you be willing to pay for this stock today?
Answer:
Price to be paid today = $118.35
Explanation:
The price of a share can be calculated using the dividend valuation model
According to this model the value of share is equal to the sum of the present values of its future cash dividends discounted at the required rate of return.
The model can applied as follows:
PV of dividend = D×(1+r) ^(-n)
D- dividend , r - required rate , n- number of year
D- 9.25, r - 16%, n = 2
PV of dividend = 9.25 × (1.16)^(-2)= 6.9
PV of disposal value
PV of dividend = F × (1+r) ^(-n)
D- disposal value , r - required rate , n- number of year
PV of disposal value = 150 × (1.16)^(-2)= 111.47
Price to be paid today
Total present value = 6.9 + 111.47 = 118.35
Price to be paid today = $118.35
In the course of selling a home to a buyer, a broker told the buyer that the home's foundation was "solid as a rock", when he knew for a fact that it was slowly sinking into the landfill on which it was built. In this situation, the broker's conduct would be BEST defined as a
Answer:
willful misrepresentation
Explanation:
Willful misrepresentation is an intentional act or misrepresentation of facts with an intent to deceive. It is an intentional action taken by one party, which constitutes a breach of representation with an intent or act to mislead the other party to whom such representation was made.
The above scenario is an example of wilful misrepresentation because the broker knew that the foundation of the house was faulty but willfully misrepresented fact by telling the buyer that the home's foundation was 'solid as rock'.
