A bank agreed to lend a merchant $10,000 for one year at 8% interest. The loan proceeds were to be disbursed within two weeks. The merchant intended to use the loan proceeds to purchase a specific shipment of carpets for resale at an expected profit of $5,000 but said nothing about these plans to the bank. The bank failed to disburse the proceeds and refused to assure the merchant that it would do so. The merchant was able to secure a loan from another lender at 10% interest for one year. However, by the time the merchant started the application process for a substitute loan, it was too late to pursue the opportunity to buy the shipment of carpets. In an action against the bank for breach of contract, which of the following amounts is the merchant likely to recover?
Answers:
A. Nothing, because damages lost opportunities are not recoverable.
B. Nothing, because the parties failed to tacitly agree that the merchant would be entitled to damages in the event of a breach by the bank.
C. The difference in cost over time between a loan at 10% and a loan at 8%.
D. $5,000, the merchant's foreseeable loss.

Answers

Answer 1

Answer: C. The difference in cost over time between a loan at 10% and a loan at 8%.

Explanation:

The first bank cannot be held liable for damages relating to the loss of the opportunity to buy the carpets because they were not informed of it and so could not have made a decision based on it.

Another thing they cannot be held liable for is the merchant's inability to get another loan in time because it is assumed that there are other banks that the merchant could have gone to. What they can be held liable for however, is the difference in the types of loans.

The merchant had to get a loan with a higher interest rate because they couldn't honor their agreement so they will pay the difference in interest between their loan and the one the merchant was able to get.


Related Questions

Matching Question Match the following strategies for selling products globally with the correct definition. Product extension Product extension drop zone empty. Product adaption Product adaption drop zone empty. Product invention Product invention drop zone empty. Creating a totally new product to satisfy common needs across countries. Selling virtually the same product in other countries. Changing a product to make it more appropriate for a country's climate or consumer preferences. Need help

Answers

Answer:

1. Product invention.

2. Product extension.

3. Product adaptation.

Explanation:

A product can be defined as any physical object or material that typically satisfy and meets the demands, needs or wants of customers. Some examples of a product are mobile phones, television, microphone, microwave oven, bread, pencil, freezer, beverages, soft drinks etc.

1. Product invention: it involves creating a totally brand new product to satisfy or meet common consumer needs across countries.

2. Product extension: it involves selling virtually the same product in other counties i.e sales of product that are the same in various countries.

3. Product adaptation: it involves changing a product in order to make it more appropriate or convenient for a county's climate or consumer preferences.

Maddie noticed that many students on campus had t-shirts and sweatshirts with Greek organization letters or club names on them. Recognizing that there was a huge market for this attire, Maddie rented a store front and a silk screening machine to get into the t-shirt business. Maddie's rent is $1,000 a month, including utilities. The silk screen machine leases for $300 a month. Maddie can buy blank t-shirts for $6 each and sweatshirts for $10 each. Maddie calculated the cost of materials for the silk screening at $2 per unit. If Maddie sells a screened t-shirt for $15 and a sweatshirt for $25 each, which would she prefer the customer purchase?
A) Sweatshirt because the contribution margin is higher
B) T-shirt because the cost of production is lower
C) Sweatshirt because the selling price is higher
D) T-shirt because the contribution margin is higher

Answers

Answer:

D

Explanation:

Contribution margin is the level of output at which revenue would equal zero

Contribution margin = fixed cost / (price - variable cost)  

fixed cost = 1000 + 300 = 1300

variable cost :

t shirt = 6 + 2 = 8

sweats = 10 + 2 -= 12

1300 / ( 15 - 8) = 185.71

1300 / ( 25 - 12)

Domestic production is also known as? 
(a) Surplus
(b) Local
(c) Traditional
(d) Subsistence​

Answers

Answer:

Domestic production is also known as (d) Subsistence.

Explanation:

Gross Domestic Product (GDP) is the final monetary value of the goods and services produced within the country during a specified period of time, normally a year. In simple terms, GDP is the measure of the country's economic output in a year.

It’s also known at Subsistence D

Which part of an insurance application will contain information regarding the cause of death of the applicant's deceased relative

Answers

Answer:

Medical Information

Explanation:

Medical Information of the application includes certain information on the  insured's prospective medical background, his or her present health conditions, any kind of visits to the medical in the recent years, the medical status of the living relatives, and also causes of death of the deceased relatives.

The medical information are used by the insurance companies to underwrite the policies.

An economy can produce either guns or butter with all available resources. Suppose it currently produces all butter and it chooses to produce some guns, thereby giving up some production of butter. As a result, the first 200 units of guns are produced at the cost of only 50 units of butter. Not surprisingly, the next 200 units of guns are produced at the cost of 150 units of butter and the last 200 units of guns at the cost of 300 units of butter. What does this describe?

Answers

Answer: The law of increasing opportunity costs

Explanation:

The scenario given describes the law of increasing opportunity costs. This law explains that when there's an increase in output in the production of a good, this will then bring about a scenario whereby the opportunity costs of the additional units of the other good will then be less.

As there is an increase in the production of one good, then this will lead to the increase in the opportunity cost of producing the next unit.

How can business activity affect the government?

Answers

Businesses often engage in a variety of tactics to influence government policy. This includes lobbying, political contributions, and interest group politics.

Which phrase best completes the diagram?

A) Unlimited liability
B) Few employees
C) Complex regulations
D( Multiple owners

Answers

Answer:

D) Multiple owners

Explanation:

if it's a partnership there's more than one owner and if it's a corporation, controlled by shareholder"S" then i don't know, they'd both have multiple owners in common??

Multiple owners best complete the diagram. The correct option is D.

How is ownership divided in a partnership?

Profits, liabilities, and management responsibilities are assumed to be distributed equally among partners in general partnerships. If you choose an unequal distribution, the partnership agreement needs to specify the percentages that were given to each partner.

A corporation is a type of business organization that is owned by shareholders, who own a portion of the company through the purchase of stocks or shares. Because a corporation is owned by multiple shareholders, it is a form of business that is considered to be separate from its owners, or shareholders, in terms of legal liability and management.

This means that the corporation can enter into contracts, own assets, and be sued or sue others in its own name, rather than in the name of its individual shareholders. The shareholders of a corporation elect a board of directors, who are responsible for making decisions about the management and direction of the company.

Thus, the ideal selection is option D.

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Lightning strikes one of Christy’s trees in her backyard and starts a fire that spreads to two other trees before firefighters are able to put it out. The fire department charges her $600 for responding to her call. Christy’s DP-2 policy has a Coverage A limit of $95,000. What is the maximum amount of indemnification that Christy can expect to receive for this loss (ignoring any deductible)?

Answers

Answer:

$2000

Explanation:

The maximum amount of indemnification that Christy can expect to receive for the loss = $2000

Given that Indemnity is the payment made to an insured person that will cover the exact cost of the loss suffered

limit of Christy's DP-2 policy = $95,000

Cost of damages charged by fire department = $600

This is a partial loss  ( not considering depreciation )

Replacement cost = $95,000

assume percentage of loss = 2.1%

Max amount of Indemnification = 2.1% * 95,000 =  $1995 ≈ $2,000

The following events occurred last year at Dorder Corporation: Purchase of plant and equipment $ 45,000 Sale of long-term investment $ 24,000 Dividends received on long-term investments $ 9,000 Paid off bonds payable $ 12,000 Depreciation expense $ 32,000 Based on the above information, the net cash provided by (used in) investing activities for the year on the statement of cash flows would be: Multiple Choice $(32,000) $(69,000) $(12,000) $(21,000)

Answers

Answer:

$(21,000)

Explanation:

The computation of the  net cash provided by (used in) investing activities is shown below:

Cash flows from investing activties

purchase of plant and Equipment = -$45,000  

Sale of long term investment $24,000  

net cash used by investing activities - $21,000

Hence, the last option is correct

If the actual unemployment rate (U) is greater than the natural rate of unemployment (UN), a(n): Multiple Choice recessionary gap exists and actual real GDP (QE) is less than natural real GDP (QN). inflationary gap exists and actual real GDP (QE) is greater than natural real GDP (QN). inflationary gap exists and actual real GDP (QE) is less than natural real GDP (QN). recessionary gap exists and actual real GDP (QE) is greater than natural real GDP (QN).

Answers

Answer:

Option b (Inflationary gap.....(QN)) is the correct option.

Explanation:

Unemployment rates naturally are not dependent upon business price movements. Everything just necessarily leads to friction as well as structure.Whenever natural rates are below official unemployment, therefore inflation seems to be on the way to the industry, this same manufacturing sector overheats or the actual growth rate is higher above inflationary pressures throughout economic growth.

There are three more alternatives that do not connect to the circumstance. Thus, the solution is right.

Research three ways a business can promote products and services and describe the strengths and weaknesses of each.

Answers

Answer:

Promotions is the part of marketing that specifically involves communicating company or product information to targeted customers. This is a key component of the broader marketing system, because it is what usually makes customers aware of you, attracted to your brand, interested in buying and ultimately, loyal customers. Advertising, public relations and personal selling are three staple methods of promotion, though some new techniques have emerged in the early 21st century.

Advertising

Advertising takes up a significant portion of a company's budget allocated toward marketing and promotion. It includes the development and paid delivery of brand or product messages through media. Companies usually have internal advertising departments that design and develop ads, or they work with advertising firms who specialize in the advertising process. Since you pay for ad placement in media such as television, radio, newspapers and magazines, you generally have more control over the message than you do through some other promotional methods.

Public Relations

Maintaining goodwill with the public is an important long-term strategy for both small and large companies. A variety of public relations tactics are used to reach out to customers through unpaid-for media messages. Press releases are one of the most common and routine PR tactics. This is when a company sends an overview of a major change or event, product launch or other news to various media outlets. Press conferences, features news reports and newsletters are other common PR tools. A general objective of PR is to keep your brand in front of people even beyond paid ads. The challenge is you can't always control the way your PR messages are delivered or received.

Selling

While business typically engage in some level of advertising and public relations, the use of personal selling tactics varies considerably. Some small businesses don't employ active sales associates based on the small-scale products or services they sell. Companies with big-ticket items, such as electronics or appliances, more often use sales associates to stress the benefits of products to customers and to overcome their concerns. Selling is one of the most interactive forms of promotion.

 

Advertising, public relations and personal selling can promote products and services and describe the strengths and weaknesses of each.

What is a business?

Business refers to the activity of creating, purchasing, and reselling goods in order to support oneself financially.

Advertising: A considerable amount of a bank's advertising and development budget is spent on advertising. The majority of businesses either use internal advertising teams to create and develop their ads or they contract with external ad agencies who specialized in the process of marketing.

Public Affairs: Keeping the public's trust is a crucial long-term approach for businesses of all sizes. Customers are reached through unpaid media messaging using a range of public marketing strategies. Among the most common and conventional PR strategies is the press release.

Selling: While businesses usually participate in some form of advertising and promotion, the utilization of personal selling techniques varies greatly. Because they provide such low-volume goods or services, several small enterprises don't have active sales representatives.

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Which of the statements below is​ FALSE? A. A problem with using the dividend growth model is that it appears to underestimate the expected return for some stocks B. A problem with using the dividend growth model is that it produces a negative expected return whenever a firm cuts its dividends. C. A problem with using the dividend growth model is that it appears to underestimate the expected return for all stocks. D. The dividend model requires that a firm have a cash dividend history and that the dividend history shows a constant dividend or a positive growth in dividends.

Answers

Answer:

C. A problem with using the dividend growth model is that it appears to underestimate the expected return for all stocks.

Explanation:

In the case of the dividend growth model, it shows the underestimated of the return for some stocks, also it generated the negative return at the time when the firm could cut the dividend. ALso it needs that the firm has the history of the cash dividend and that history should show the same dividend or the positive growth

But it does not show the underestimate for all kind of the stocks

Will the fact that the euro has become the standard currency in the EU help or hinder a new McDonald's franchise in Europe?

Answers

mmfnfmmfnnhngnnng

ts.iOD6DYOYDO.toss.to.taia.tgamys.k.syky.soky.sSLYi

Answer:

a new McDonald's franchise in Europe?

Factories that produce smartphones can also produce smart watches. Which of the following events in the market for smartphones illustrates the law of supply?
1. The price of a smart watch falls.
2. A new robot technology lowers the cost of producing smartphones.
3. The price of a smartphone falls.
4. The price of a smartphone is expected to rise next year.
5. The wage rate paid to smartphone factory workers increases.
A, Event #1 only
B. All 5 events listed
C. Events #1, #4, and #5
D. Events #2, #3, and #4
E. Event #3 only

Answers

Answer:

e

Explanation:

according to the law of supply, the higher the price, the higher the quantity supplied and the lower the price, the lower the quantity supplied.

Only a change in the price of he good affects the law of supply

When The price of a smartphone falls, quantity supplied falls

other factors lead to a change in demand

What kind of inventory tracking system shows the cost and gross profit margin in each item?

Unit-control systems

Dollar-control systems

Manual tag systems

Radio frequency identification systems

Answers

Answer:

hola its jess !!

answer is here:-

Dollar-control systems show the cost and gross profit margin on individual inventory items.

hope it may help you!!

What would you pay for a stock expected to pay a $2.50 dividend in one year if the expected dividend growth rate is zero and you require a 10% return on your investment?

Answers

Answer:

$25

Explanation:

according to the constant dividend growth model

price = d1 / (r - g)

d1 = next dividend to be paid

r = cost of equity

g = growth rate

$2.5 / (0.1 - 0) = $25

A co-worker who has to leave work early to deal with a personal matter asks that you complete some time-sensitive paperwork and turn it into your supervisor before leaving at the end of the day. You agree and urge your co-worker to leave in order to address his personal matter, assuring him it will be taken care of. At the end of the day, you neglect to carry through on your promise and do not complete the paperwork. The next day, your supervisor chastises your co-worker, indicating that a reprimand will be placed in their personnel file because of the failure. Your co-worker does not disclose that you had promised to complete the work. Using the Golden Rule as a guideline, you should: _______.

Answers

Answer:

intervene and tell the supervisor you had assumed responsibility for the paperwork and forgot

Explanation:

The golden rule is based on a principle of reciprocity and it states that one should treat others the way they want to be treated.

Different religions overtime have the same principle embedded in their doctrines.

In the given scenario where a coworker told you to compete some work for him before leaving and you failed to do so, when the coworker is being reprimanded you should take responsibility for the paperwork and say you forgot.

This is only fair on your coworker seeing it wasn't his fault the work was not done.

Also when you treat people fairly you can also be expected to be treated fairly too.

Who has the most goals in fifa history​

Answers

Answer:

Pele

explanation:

In 1.9k+ goals

Germany and the U.S. both produce cars and airplanes. The U.S. has the comparative advantage in producing airplanes if a. the opportunity cost of producing an airplane is lower for Germany. b. Germany requires fewer resources than the U.S. to produce an airplane. c. the opportunity cost of producing an airplane is lower for the U.S. d. the U.S. has an absolute advantage over Germany in producing airplanes.

Answers

Answer:

Option C

Explanation:

In simple words, The capacity of a country to provide a certain item or service at a lower opportunity expense than its trade rivals is known as comparative advantages.  A comparative advantages allows a firm to sell goods as well as services at a cheaper cost than its rivals while maintaining higher profit margins.

Thus, from the above we can conclude that the correct option is C.

Dobris Networks Inc. provides network traffic awareness, analysis, and control solutions for broadband service providers in USA. The company plans to expand its business in Austria. The directors of the company want a group of top level managers to take a call on the expansion strategy by studying the situation on hand. The task assigned to the group is an example of _____ tasks.

Answers

Answer:

D. intellective

Explanation:

The Intellective task is the task that includes the group capability for making the decision or the judgement

Since in the given situation it is mentioned that the company directors wants the group of the top level manager where the expansion strategy should be called via having the situation on the hand so here the task allocated to the group represent the example of the intellective task

Football Contractors, INc., which reports under US GAAP, has contracted to build a stadium for the City of Washburn. The contract price is $100 million and costs are estimated at $60 million. Costs are not assured, however, because there is a material risk, which Football Contractors has assumed, that ground water problems might slow construction and increase costs by as much as $40 million. In 2004, the first year of the agreement, Football Contractors, Inc. billed $30 million, received $20 million payment, and incurred $15 million in costs. For 2004 Football Contractors, INc. should recognize revenue from the CIty of WAshburn transaction in the amount of:
A) $0.
B) $30 million.
C) $20 million.

Answers

Answer:

The answer is A. $0

Explanation:

It is stated in the question that the total costs to completely deliver this contract has not been clearly defined due to uncertainty in ground water problem.

Thus, the method should be applied under US GAAP in this situation is complete contract method which indicates that No revenue should be recorded until the contract is completed and the total cost to deliver contract is defined.

Thus, in 2004, the revenue from contract is not recorded at all which gives us the answer to be A. $0

Answer:

A) $0.

Explanation:

Under the US GAAP, when there are uncertainties surrounding costs and cannot be estimated reliably, the completed contract  method would be applied.

Completed contract method means that no revenue would be recognized on the contract until contract completion, in other words, Football Contractors, Inc. should not recognize any revenue e from the CIty of Washburn transaction in the year 2004.

In short, the correct option is A with $0 revenue in the year 2004.

Monetary Policy in Flosserland In Flosserland, the Department of Finance is responsible for monetary policy. Flosserland has had an inflation rate of 25% for many years.

Refer to Monetary Policy in Flosserland. Suppose that the Flosserland Department of Finance has run a public relations campaign claiming it will reduce inflation to 12.5% but it actually raises inflation to 30%. Suppose that the public had expected that the Department of Finance would reduce inflation but only to 22%. Then

A. unemployment falls, but it would have fallen less if people had been expecting 25% inflation.
B. unemployment rises, but it would have risen less if people had been expecting 12.5% inflation.
C. unemployment falls, but it would have fallen less if people had been expecting 12.5% inflation.
D. unemployment rises, but it would have risen less if people had been expecting 25% inflation.

Answers

Answer:

A. unemployment falls, but it would have fallen less if people had been expecting 25% inflation.

Explanation:

Due to the Flosserland Department of Finance it decreased the inflation to the 12.5%. In the case when the inflation is too high so it would develop the high unemployment but when the FDE plans to decreased it to 12.5% so only 22% would be decreased

Now when the inflation fall to 12.5% so it rise the unemployment as people predicted the inflation to be 25% but if the inflation is decline to 12.5% so the unemployment would also be decline

Therefore the option a is correct

define the term display work?​

Answers

it’s like to show another copy or something like an example of a movie how there’s a copy of a book and there’s a movie or television form.

Horizontal, vertical, and related acquisitions to build market power: Group of answer choices are likely to undergo regulatory review by various governmental entities. are rarely permitted to occur across international borders. concentrate on capturing value at more than one stage in the value chain. typically involve a firm purchasing one of its suppliers or distributors.

Answers

Answer:

likely to undergo regulatory review by various governmental entities.

Explanation:

A horizontal acquisition refers to the business strategy where the one company could take the other company that operates at the similar level while on the other hand the vertical integration is the integration where the business operation could be acquired with the similar kind of production

So these types of acquisition should established the market power through which the regulatory review could be undergone via a different government entities

Write any four benefits of working in a positive workplace.

Answers

Answer:

1. Self-comfort

2. Get interested

3. Get interacted with others

4. Having good work.

All of the following are skills needed by an accountant except: O Communication O Time management O Speed O Critical Thinking​

Answers

Answer:

O Speed.

Explanation:

An accountant is someone who keeps an account of the financial records of a person or a business. They are responsible for performing accounting functions such as analyzing accounts, auditing, and reporting the financial transactions of a person or a business.

Among the various skills needed to be an accountant, speed is not one of them. Communication, be it oral or written is one important aspect of the requirement while time management and critical thinking are also important aspects of an accountant.

Thus, the correct answer is the third option.

A government acquires as an investment a 30-year U.S. Treasury bond having a face value of $10,000. At the end of year 20, with 10 years remaining until maturity, the bond had a fair value of $10,200. Taking into account the discount at which the government initially purchased the bond, its amortized cost was $9,760. Assuming that it held the bond in a governmental fund, the government should report the bond at a value of

Answers

Answer:

$10,200

Explanation:

Based on the information given Assume that it held the bond in a governmental fund, the GOVERNMENT SHOULD REPORT THE BOND AT A VALUE OF THE AMOUNT OF $10,200 reason been that we were told that the bond had a FAIR VALUE of the amount of $10,200.

Therefore the government should report the bond at a value of $10,200.

The government in Chile recently informed Clint Travis' company that his retail grocery chain in Chile would have to be gradually turned over to the people of Chile by the year 2050. Additionally, starting next year fifty percent of the board of directors of the Chilean operation of the company must be Chileans. Which of the following political risk actions is Mr. Travis' company facing in Chile?
A. Confiscation
B. Expropriation
C. Domestication
D. Patronization
E. Socialization

Answers

Answer:

Option C

Explanation:

In simple words, Domestication happens when host nations gradually shift foreign capital to indigenous administration as well as possession through with a succession of governmental decrees that mandate local ownership and increasing national participation in administration.

Hence, from the above we can conclude that the correct option is C.

As the CEO of your company, you can use only the planning and controlling functions to reach your organizational goals.
Select one:
O True
O False

Answers

Answer: False

Explanation:

CEOs are top management and top management use all five functions of management to ensure that the company reaches its goals and objectives.

The CEO has to use planning to to decide what long term strategies the company will use to achieve its goals. They have to use controlling to evaluate and improve the methods the company is taking to achieve its long term goals.

They also have to use staffing to hire the best top level and middle level talents that can push the company forward. As management they have to use leading to get the employees inspired to move the company forward and finally they will use organizing to put the various processes in the company together to ensure that the company's goals are met.

are you smart enough to do that task try it who is the first person made the light

Answers

Joseph Swan but Thomas Edison later capitalized on the invention by improving it
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