Business, 01.02.2021 22:00, AleOfficial101
When Steven Simkin divorced Laura Blank, they agreed to split their assets equally. They owned an account with Bernard L. Madoff Investment Securities estimated to be worth $5.4 million. Simkin kept the account and paid Blank more than $6.5 million—including $2.7 million to offset the amount of the funds that they believed were in the account. Later, they learned that the account actually contained no funds due to its manager's fraud. Did Steven and Laura have a contract? What was the subject of the contract? It was a agreement. Did they agree to split their assets equally under the terms of the contract? Of the elements of a valid contract- mutual assent, consideration, capacity, legality-which element of the divorce agreement is in issue here? Why? What term of the divorce agreement indicates the parties may not have had a meeting of the minds (mutual assent)? When the parties learned the Madoff account was worthless, who might want to get out of this agreement? Why? Because kept the Madoff account and paid $2.7 million for a one-half share. How can assent be invalidated? 1. 2. 3. 4. Which one occurred here? Were both parties mistaken as to the amount in the Madoff account? What type of mistake was this? What type of mutual mistake was this? Why was this a mistake of fact? Is Steven more likely to get out of the agreement because it was a mistake of fact? In a mistake of value parties the risk of the value changing so that if the value changes, the parties can't say it was mistake. What was different about this mistake? The parties mistaken as to the actual value of the account, but it was not because they assumed the risk of the account decreasing over time. The mistake was that the account had no value because it had been . How does the remedy differ if it was a mistake of value? If it is a mistake of value you generally get out of the contract - if it is a mistake of fact you get out of the contract. Would a court likely rescind this agreement due to mutual mistake of fact? Would Laura have to return the monies she received in the divorce? What if the account was properly managed and the stock market had dropped from the time the agreement was made until Steven had to pay Laura? Could Steven then rescind the agreement? Why? This is a decrease in value and a mistake as to the won't be rescinded.
Answers: 3
Business, 22.06.2019 00:40, lindseybug
Guardian inc. is trying to develop an asset-financing plan. the firm has $450,000 in temporary current assets and $350,000 in permanent current assets. guardian also has $550,000 in fixed assets. assume a tax rate of 40 percent. a. construct two alternative financing plans for guardian. one of the plans should be conservative, with 70 percent of assets financed by long-term sources, and the other should be aggressive, with only 56.25 percent of assets financed by long-term sources. the current interest rate is 12 percent on long-term funds and 7 percent on short-term financing. compute the annual interest payments under each plan.
Answers: 3
Business, 22.06.2019 14:00, Kate1678
Wallace company provides the following data for next year: month budgeted sales january $120,000 february 108,000 march 140,000 april 147,000 the gross profit rate is 35% of sales. inventory at the end of december is $29,600 and target ending inventory levels are 10% of next month's sales, stated at cost. what is the amount of purchases budgeted for january?
Answers: 1
Business, 22.06.2019 17:50, ratpizza
Abc factory produces 24,000 units. the cost sheet gives the following information: direct materials rs. 1,20,000direct labour rs. 84,000variable overheads rs. 48,000semi variable overheads rs. 28,000fixed overheads rs. 80,000total cost rs. 3,60,000presently the product is sold at rs. 20 per unit. the management proposes to increase the production by 3,000 units for sales in the foreign market . it is estimated that semi variable overheads will increase by rs. 1,000. but the product will be sold at rs. 14 per unit in the foreign market. however, no additional capital expenditure will be incurredq-1. what is present profit of the company ? q-2. what is proposed profit of the company in new market? q-3.what is suggestion for new makret proposal whether proposal accept or not
Answers: 1
When Steven Simkin divorced Laura Blank, they agreed to split their assets equally. They owned an ac...
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