10. Rift valley university needed a large quantity of cement for building new additional class room due to covid-19 pandemic they negotiate with dire dawa National Cement company and agreed that they would buy 10,000.00 bags of cement at price of 5 birr per kilo. The typiast for the cement campany typed up the agreement and-representative of both parties signed it. Unfortunately the secretary typed 15 birr per kilo instead of 5. After the cement was deliverd, Dire Dawa national cement asked rift valley university to pay 500,000.00 birr or 15 birr pèr kilo for 10,000 bags of cement, each bags having contained 50 kilos of cement. In the meantime, the market price of cement had gone up to 15 birr per kilo and rift valley university went to court and asked the court to invalidité the contract on grounds that a fundamental mistake had been made in the contract. Questions :- Should rift valley university request be granted ? why or why not ? Is the cement campany claim to paymet at the rate of 15 birr per kilo well founded ? why or why Not ?

10. Rift valley university needed a large quantity of cement for building new additional class room due to covid-19 pandemic they negotiate with dire dawa National Cement company and agreed that they would buy 10,000.00 bags of cement at price of 5 birr per kilo. The typiast for the cement campany typed up the agreement and-representative of both parties signed it. Unfortunately the secretary typed 15 birr per kilo instead of 5. After the cement was deliverd, Dire Dawa national cement asked rift valley university to pay 500,000.00 birr or 15 birr pèr kilo for 10,000 bags of cement, each bags having contained 50 kilos of cement. In the meantime, the market price of cement had gone up to 15 birr per kilo and rift valley university went to court and asked the court to invalidité the contract on grounds that a fundamental mistake had been made in the contract. Questions :- Should rift valley university request be granted ? why or why not ? Is the cement campany claim to paymet at the rate of 15 birr per kilo well founded ? why or why Not ?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Answer is not -349880 or -350 thousand which is one of your tutor replies is wrong.I would like to learn correct one.
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