Flozell Adams is a professional football player formerly with the Dallas Cowboys. He submitted a claim in arbitration against his agent, Roosevelt Barnes (according to the terms of their contract for fees and the union rules for settlement of player disputes with agents). He said Barnes owed him because of overpayment on his contracts that Barnes negotiated for him with the Cowboys. Adams was notified of the binding arbitration hearing date. When he arrived, he said he was unaware of his right to counsel and asked for a postponement of the hearing so that he could retain counsel. His request was denied. The arbitrator found for Barnes for the contract for the eight seasons Adams played for the Cowboys. Barnes did not owe any money to Adams. In fact, the arbitrator found that Adams owed Barnes fees for his contracts for three of the Cowboys’ seasons. Adams then filed suit to have the arbitration award set aside because he said the arbitrator was biased and that the arbitrator ignored the statute of limitations on some of the contracts. Which of the following best describes what the court can do about the arbitration award? a. Arbitration awards can be set aside if the losing party feels the arbitrator was biased. b. Arbitration awards can be set aside only after an actual trial is held. c. Arbitration awards can be set aside if the finding is inconsistent with the law. d. Arbitration awards are rarely set aside.
Answers: 3
Business, 22.06.2019 01:50, jjaheimhicks3419
Amanda rice has just arranged to purchase a $640,000 vacation home in the bahamas with a 20 percent down payment. the mortgage has a 7 percent apr compounded monthly and calls for equal monthly payments over the next 30 years. her first payment will be due one month from now. however, the mortgage has an eight-year balloon payment, meaning that the balance of the loan must be paid off at the end of year 8. there were no other transaction costs or finance charges. how much will amanda’s balloon payment be in eight years
Answers: 3
Business, 22.06.2019 18:00, tifftiff22
On september 1, 2016, steve loaned brett $2,000 at 12% interest compounded annually. steve is not in the business of lending money. the note stated that principal and interest would be due on august 31, 2018. in 2018, steve received $2,508.80 ($2,000 principal and $508.80 interest). steve uses the cash method of accounting. what amount must steve include in income on his income tax return?
Answers: 1
Flozell Adams is a professional football player formerly with the Dallas Cowboys. He submitted a cla...
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