Can D make C’s estate liable for his debt

Q: Rica, the president of XYZ Corporation was authorized by the Board of Directors of XYZ Corporation…

A: A loan means a contract in which one party lends money to other for a certain time period that is…

Q: Horn’s Crane Service furnished supplies and services under a written contract to a partnership…

A: Partnership: This is the form of business entity which is formed by an agreement, owned and managed…

Q: Firenze is the holder of an instrument payable to him (Firenze) or his order, with Florence as…

A: Bill of exchange is a writing document which contain the information to confirm the order to make…

Q: The loss on revaluation is debited in the Old partners capital account. Select one: True False

A: The partnership comes into existence when two or more persons agree to do the business and share…

Q: If employees are bonded they have worked for the company for at least 10 years. O it means that they…

A: Bonded employees covered under the famous Fidelity bond. bonded employees they employee for whom the…

Q: the co-ownership?

A: The co-owners are the owners of the property, they own the property jointly. Co-owners enjoy the…

Q: mages from: a. Coverage A

A: HO-2 is the name of the homeowner's policy tier which interprets the coverage of only the home and…

Q: What is the legal relationship of a sole proprietorship to its owner? A. The owner and the sole…

A: Sole proprietorship is a business structure where an individual owns and operates the business, with…

Q: Watson Diggs and Paul Caine form Diamond Group LLC. Watson invests $1,000 into the Diamond Group and…

A: LLC stands for "Limited Liability Company," which is a type of business entity that combines the…

Q: Charles has been asked to join a new partnership that is developing a recreation facility. He does…

A: Choosing the right business structure is a key factor in determining the success of any business…

Q: A lender whose mortgagor has defaulted may be offered a deed in lieu of foreclosure. If he accepts,…

A: The correct answer is: (B) The lender will take title subject to any junior Liens. A deed in lieu of…

Q: Sonia and Fred are partners in a CPA firm that was formed as a Limited Liability Partnership (LLP).…

A: LLP is a form of partnership business where the liability of several or all of the partners is…

Q: When there is a capital deficiecy, the effect is that a. the cash and other assets will also be…

A: Ans. Whenever there happens a case of capital deficiency, the assets are less as compared to the…

Q: Neil and Dylan are partners in a lawn mower repair business in Ohio. While Neil is on vacation…

A: As the work performed for his sister's neighbor is similar to the work which is usually performed by…

Q: ,what amount did she likely indicate he would be able to legally recover from Glen? A) $5000 B)…

A: Answer with explanation are as follows

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A: Partnership deed means a written agreement between the intended partner who wants to come together…

Q: In one of the following situations, the member acted properly. Which one? Group of answer choices…

A: Ethics refers to a set of moral principles that govern a person's behavior or conduct. Ethics are…

Q: Mr

A: This is conditional mortgage.jones can not refuse to sell them the house .

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A: Facts mentioned in the given question: Amy is a salesperson for ABC Company ABC never expressly…

Q: Franklin, John, Henry, and Harry have decided to pool their financial resources and business skills…

A: Business entity: A business organization which is created by one or more persons and governed by…

Q: 20. Which of the following does not discharge a contract by operation of law? A - Bankruptcy B -…

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Q: The shareholder is usually liable for the corporation’s debts.

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A: Amount of Lew's loss from the activity=Sales-(Depreciation on greenhouse+Fertilizer, soil, pots)

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A: Securitization refers to the practice where debt obligations are pooled together and sold as…

Q: As the legal representative of your sister's estate, you would like to prepare an optional return…

A: The term sources of income refers to the origin from where the income is earned by a company or an…

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A: A Sole Proprietorship: It is a type  of enterprise  that is owned and run by one person and no legal…

Q: The biggest disadvantage of a sole proprietorship is A It is the simplest type of business to start…

A: Sole proprietorship is oldest  form of business under which an individual is able to conduct…

Q: Give one example each of moral hazard and adverse selection in private insurance arrangements. O A.…

A: Insurance is a financial arrangement in which an individual or entity (the policyholder) pays…

Q: D, E, and F are partners in DEF Enterprises. They want to obtain a loan from X, but X does not know…

A: The loan is outstanding in the books of DEF enterprise and hence the partners of DEF are first…

Q: If someone owes you money, that person or business goes into bankruptcy why would it make a…

A: Introduction:- Bankruptcy is a legal process that involves a person or company that is unable to pay…

Q: Xavier, who is a partner in SYZ Floral Delivery, negligently drove the delivery truck off the road ,…

A: Liability of the firm for acts of the partner If a partner does an act in ordinary course of…

Q: he Double Diamond Ran he owner of the Double Diamond has decided to make a general assignment fc…

A: The assets of Double Diamond Ranch are not sufficient to payoff all its liabilities. This is a…

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A: Receivables are debt owned by the company which is yet to be paid and these are reported in the…

Q: A, an industrial partner of B and C engaged in a business for himself, without the latter’s consent,…

A: A's exclusion from the firm is not valid. Because he was excluded without latter's consent.

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A: The system followed by corporations for governing, directing and controlling them represents their…

Q: Pretzel acts as a sponsor in creating a special purpose entity (SPE) that will purchase Accounts…

A: Variable interest entity is a term used when an investor has controlling interest in the entity…

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A: Contract are necessary part of business now days and there are many types of contracts involved in…

Q: Statement I: If an agent acts in his name, the principal shall have a right of action against the…

A: An accumulation of funds set aside for a specific goal is called a fund. A fund may be established…

Q: Which of the following IS NOT true about the Texas mortgage system? A. The mortgagor is the borrower…

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Contingent Liabilities and Provisions

A contingent liability can be defined as a liability the occurrence of which is dependent upon the happening of an uncertain future event. It is generally recorded in the books only when the amount of liability can be reasonably estimated and the contingency is likely to occur shortly.