Dave Company sold assets to Frank Company with an alleged value of $2,800,000. Frank Company paid $2,100,000 for the assets. The actual value of the assets was $1,800,000. Using the "out-of-pocket" damage loss method, the damages would be:
Dave Company sold assets to Frank Company with an alleged value of $2,800,000. Frank Company paid $2,100,000 for the assets. The actual value of the assets was $1,800,000. Using the "out-of-pocket" damage loss method, the damages would be:
Introduction to Chemical Engineering Thermodynamics
8th Edition
ISBN:9781259696527
Author:J.M. Smith Termodinamica en ingenieria quimica, Hendrick C Van Ness, Michael Abbott, Mark Swihart
Publisher:J.M. Smith Termodinamica en ingenieria quimica, Hendrick C Van Ness, Michael Abbott, Mark Swihart
Chapter1: Introduction
Section: Chapter Questions
Problem 1.1P
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Question
Dave Company sold assets to Frank Company with an alleged value of $2,800,000. Frank Company paid $2,100,000 for the assets. The actual value of the assets was $1,800,000. Using the "out-of-pocket" damage loss method, the damages would be:
| A. |
$300,000.
|
|
| B. |
$1,800,000.
|
|
| C. |
$1,000,000.
|
|
| D. |
$2,800,000. |
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