Suppose that jack and hal and sophia enter into the agreement for the sale of the restaurant, with jack stating in the agreement that if he feels comfortable with his finances in his retirement, that he will not sell the frozen food in competition with the restaurant. after the sale, the stock market rises considerably, and jack’s net worth quadruples. he still decides to sell the frozen food. hal and sophia sue. what is the result? a. hal and sophia would win since the contract mentioned the non-competition agreement. b. jack would unless that hal and sophia could prove that jack was comfortable with his finances in his retirement. c. hal and sophia would win since jack’s net worth quadrupled. d. jack would win since the promise not to compete was illusory.

On january 1, 2018, johnstone leased an office building. terms of the lease require johnstone to make 15 annual lease payments of $134,000 beginning on january 1, 2018. a 10% interest rate is implicit in the lease agreement. at what amount should johnstone record the lease liability on january 1, 2018, before any lease payments are made?

Emil motycka is considered an entrepreneur because

In december of 2004, the company you own entered into a 20-year contract with a grain supplier for daily deliveries of grain to its hot dog bun manufacturing facility. the contract called for "10,000 pounds of grain" to be delivered to the facility at the price of $100,000 per day. until february 2017, the supplier provided processed grain which could easily be used in your manufacturing process. however, no longer wanting to absorb the cost of having the grain processed, the supplier began delivering whole grain. the supplier is arguing that the contract does not specify the type of grain that would be supplied and that it has not breached the contract. your company is arguing that the supplier has an onsite processing plant and processed grain was implicit to the terms of the contract. over the remaining term of the contract, reshipping and having the grain processed would cost your company approximately $10,000,000, opposed to a cost of around $1,000,000 to the supplier. after speaking with in-house counsel, it was estimated that litigation would cost the company several million dollars and last for years. weighing the costs of litigation, along with possible ambiguity in the contract, what are three options you could take to resolve the dispute? which would be the best option for your business and why?