Matt bought a motorcycle from Dean, promising in writing to pay Dean$200 per month for 10 months. Dean then joined the army and signedthe contract over to his sister, Bernice, who instructed Matt to makethe payments in the future to her. This is an example ofO a delegation of duties.O an assignment of rights.O an exculpatory clause.an accord and satisfaction.Mike went skydiving for his 70th birthday. He signed an agreementwhich contained a provision waiving all claims for injury or death whichhe might have if the jump was not successful. The provision waivingclaimsis an exculpatory clause.O is not an exculpatory clause.is enforceable because of the nature of the activity.A and C. Scott agrees in writing to sell 10 new iPhones to Bradford for $750each, payable upon delivery. This is a good deal because the priceeverywhere else is $1,250 each. Scott breaches the contract and neverdelivers the iPhones. Bradford is forced to buy the iPhones elsewherefor $1,250 each. If Bradford sues Scott in a court of law forcompensatory damages for breach of contract,Bradford is not entitled to anything since he never paid for the iPhones.Bradford is not entitled to anything because he took advantage of thesituation.O Bradford is entitled to $12,500 in damages.O Bradford is entitled to $5,000 in damages.

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Matt bought a motorcycle from Dean, promising in writing to pay Dean $200 per month for 10 months. Dean then joined the army and signed the contract over to his sister, Bernice, who instructed Matt to make the payments in the future to her. This is an example of O a delegation of duties. O an assignment of rights. O an exculpatory clause. an accord and satisfaction.

Matt bought a motorcycle from Dean, promising in writing to pay Dean $200 per month for 10 months. Dean then joined the army and signed the contract over to his sister, Bernice, who instructed Matt to make the payments in the future to her. This is an example of O a delegation of duties. O an assignment of rights. O an exculpatory clause. an accord and satisfaction.

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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