The position of the receiver of the letter.
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- Which of the following matters cannot be taken into account in determining a taxpayer’s purpose in entering into or carrying out a scheme under Part IVA: (a) Manner in which the scheme is entered into and carried out. (b) Form and substance of the scheme. (c) Time the scheme is entered and length of period it is carried out. (d) Tax result achieved but for Part IVA. (e) Change in financial position of the taxpayer and any connected person. (f) Other consequences for the taxpayer and any connected person. (g) Nature of any connection between the taxpayer and any connected person. (h) A taxpayer’s actual subjective purpose. in entering into the scheme or carrying it out. Which of the following cannot be a general deduction for an employee: (a) Work union membership fees. (b) Work related travel (non-car) expenses. (c) Periodical subscriptions to trade or professional associations. (d) Periodical subscriptions to work related or professional books and manuals. (e) Technical or trade…Defined as an unconscious ignorance or forgetfulness of the existence or non existence of a fact,past or present,material to the contract.Darren goes to a monster truck rally. Before going to the rally, he does not read the back of his ticket, which states "Monster truck rallies are extremely loud and noisy. Ear protection is highly recommended. By purchasing this ticket, the bearer of the ticket has expressly assumed any and all risk of ear injury associated with attending this event." Darren, not having read the back of the ticket, does not bring earplugs or other protective ear equipment to the rally. After the rally, he has constant ringing in his ears and cannot clearly hear people talk to him. Did Darren expressly assume the risk of ear injury? What about impliedly? Why or why not?
- Damaris is in possession of a check issued to her by Erik. The check states "Pay to the order of Damaris." If Damaris wishes to transfer the check to Faisal to pay a debt she owes him, all she needs to do is strike out her name on the front of the check, write in Faisal's name, and give it to him. Select one: True FalseAn agreement made to sell a truck load of tomatoes, which was not in existence at the time of contract is: O a. Voidable at the option of either party O b. A void agreement O C.A valid agreement O d. An unenforceable agreementHeritage Loan Company extends credit in the ordinary course of its business. Under the Truth-in-Lending Act, Heritage must inform potential borrowers of credit terms offered by other lenders. comparative prices for goods to be bought with the borrowed funds. Heritage's credit terms. Heritage's opinion of the borrower's ability to afford the goods to be bought with the borrowed funds
- The Accounting department sent a letter enclosing the purchase invoice, to the seller of their product. In the letter they mentioned Cc: Sales Manager, which means: a. The sales manager will receive a copy of this letter b. The accounting department is not responsible for the invoice. c. The sales manager has to carefully file the invoice d. The sales manager is responsible to send the invoiceTommy posted a flyer on the bulletin board of a local music school, stating that he was hosting an event next month, for which he planned to hire a DJ. The flyer invited interested students to contact him with their hourly rates and three past clients whom Tommy could contact for references. The flyer also gave a local mailing address for this purpose. Leaving class one night, Gina happened to notice the billboard. She immediately wrote to Tommy indicating that she was available on the date in question, and that her hourly rate was $150. She also listed the names and contact information of three prior clients. Three days later, Tommy wrote back to Gina, stating that her references had all given excellent reviews, and asking whether Gina would be willing to work for $100 per hour if he advertised her services in the program provided for the event. Student received the letter the day after Tommy sent it, and wrote back the next day that she would be willing to drop her rate to $125 per…freedom of contract means you can include absolutely any term you want in a contract, even if it prejudicial to the other party. True or False
- Anna is having lunch at the restaurant across the street. An important fax comes in to the office , so her employee sheli needs to run to the restaurant to deliver the fax to her. She makes the delivery to Anna(her boss) and then leave immediately to go back to the office. The restaurant did not give sheli specific permission to enter and she did not order any food or drink while she were there. What was she? – an invitee, licensee, trespasser or something else? Would the answer change if, before she left, she snuck some food off the Anna’s plate while she wasn’t looking?John offered to buy James’s Apple Ipad and gave James two weeks for an answer. A few days after, Jill offered to sell her Apple Ipad to John, which he was very excited to purchase because it was the latest version, with all the new software applications. John called James and told him personally that he is no longer interested in purchasing his device. James is very disturbed because he saw that a new version of his IPad was being launched and he was looking forward to purchase it. James is of the view that John cannot withdraw his offer because the two weeks has not elapsed. He knows that you are a business law student at Open Campus and sought your advice on the matter. Advise James. Will your answer be the same if John failed to communicate to James within the two week period, that he was no longer interested in James’s Ipad and James accepted his offer on the last day of the two week period?Peter lets him know that he must reconsider his insistence on buying this home or find a better co-borrower if he wants an institutional mortgage. Peter thanks him for his time and tells him that he looks forward to hearing from him. Two days go by until James contacts Peter again. James tells him that he has found a solution to his problem and wishes to meet him immediately. Before he tells Peter what the solution is, he hangs up and makes his way to Peter's office. Upon arrival James tells Peter that he has found a solution to all of his problems: he now earns more money! After asking him if he got a raise. Peter discovers that instead of giving him a raise, his employer has given him a new job letter with just the right amount of income showing for him to qualify for the mortgage, and his employer is willing to verify the letter if asked. Peter has access to private funds through another brokerage, and knows that now, based on these facts, if Peter only represents his borrower, the…
