With the help of a diagram, differentiate between a void contract and a voidable contract.
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With the help of a diagram, differentiate between a void contract and a voidable contract.
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- If the delivery term in the parties’ contract for the sale of goods is FOB the place at what the goods originated, absent any other agreement, the buyer is responsible for making reasonable arrangements for the goods to be shipped. true or falseMichael Jordan specially orders a 10 foot mattress from Sleepy's without a written agreement. This contract is not enforceable. 3. Explain your answer to question 2.Yeah LTD purchased equipment on January 1, 2015 at a cost of $171,380. The equipment has an estimated useful life of 9 years and a residual value of $9,650. Crane realized that there was a declining demand for the product being produced by the equipment. Given this indicator of possible impairment, management determined that the recoverable amount of the asset on December 31, 2018 was $95,260. The company uses the straight-line method of depreciation. Record the impairment loss, if any, on December 31, 2018.
- 19) The NRC (National Research Council) of Canada is sending out a request for proposal for a very large long-term research and development project. What contract type are they most likely to use? a) fixed price b) cost reimbursable c) time and materials d) unit price 20) Payments to the seller are made in accordance with the: a) project management plan b) procurement management plan c) communications management plan d) terms of the contractWhat are assignments of contracts and what rights and obligations do they confer?1. A contract to sell real estate is generally not enforceable unless it is in writing. a) True b) False
- For a disposal group to be considered held for sale, which of the following conditions are required to be met? Management has committed to a plan to see the component. The sale is probable and is expected to be completed within one year. The component is available for immediate sale in its present condition subject only to usual and customary terms for such sales. All of these conditions must be met.Explain the differences between fee for service and prospective -payment models.Understanding the requirements documents helps the Contracting Officer ensure the solicitation and subsequent award documents are consistent. Inputting information into the solicitation in the correct locations aids in eliminating misinterpretation by industry. Explain what information to include in the solicitation and from what requirements documents the information may be obtained.