Assume that Jack and Hal and Sophia enter into a contract for the sale of the restaurant for $1,000,000. Part of the contract called for Jack to clean the outside of the restaurant prior to the closing. The day before the closing Hal alerted Jack that the restaurant was not cleaned. Which of the following is true?
A) Hal and Sophia would still have a duty to perform on the contract, but could then sue Jack for the cost of the cleaning.
B) Hal and Sophia could back out of the deal since the contract was not fully performed.
C) Hal and Sophia would still have a duty to perform on the contract, and would be out the amount that it cost them to clean the restaurant.
D) Hal and Sophia Hal and Sophia would still have a duty to perform on the contract, but could then sue Jack for three times the cost of the cleaning.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Assume that Jack and Hal and Sophia enter into a contract for the sale of the restaurant for $1,000,000. Part of the contract called for ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Previously, management calculated the number of kanban cards allowed by using a value of 1.3 for X. Assuming nothing else (e. g., usage rates, container capacities, etc.
Answers (1)
2. Swinnerton Clothing Company's balance sheet showed total current assets of $900, all of which were required in operations.
Answers (1)
If both the real interest rate and the nominal interest rate are 3 percent, then the
Answers (1)
Consider a firm with an EBIT of $500,000. The firm finances its assets with $2,000,000 debt (costing 6 percent) and 50,000 shares of stock selling at $20.00 per share.
Answers (1)
Major Manufacturing Company has direct materials used of $50,000, beginning raw materials inventory of $10,000 and ending raw materials inventory of $8,000. Compute the raw materials inventory turnover.
Answers (1)
New Questions in Business
The Nolan Corporation finds it is necessary to determine its marginal cost of capital. Nolan's current capital structure calls for 30 percent debt, 20 percent preferred stock, and 50 percent common equity.
Answers (1)
Gaston owns equipment that cost $17,000 with accumulated depreciation of $3,400. Gaston sells the equipment for $12,200.
Answers (1)
If the supply of loanable funds exceeds the demand then borrowers will bid up the interst rate. True / False.
Answers (1)
The scientific method begins with A. the development of a formal hypothesis. B. the gathering of information. C. the identification of a problem for investigation. D. methodical observation of a phenomenon of interest.
Answers (1)
Charles loves watching downton abbey on his local public tv station, but he never sends any money to support the station during its fundraising drives. economists would call charles afree rider.
Answers (1)