(a)
Case summary: Person C borrowed from the U.S bank to buy a home, but later could not afford to pay the monthly payments. The bank notified to foreclose on her home. So, person C filed for bankruptcy. The bank offered her that her mortgage will be modified, if she foregoes bankruptcy. When she withdrew the filing, the bank foreclosed.
To find: The possibility of person C to succeed on a claim of promissory estoppel.
(b)
Case summary: Person C borrowed from the U.S bank to buy a home, but later could not afford to pay the monthly payments. The bank notified to foreclose on her home. So, person C filed for bankruptcy. The bank offered her that her mortgage will be modified if she foregoes bankruptcy. When she withdrew the filing, the bank foreclosed.
To find: The code of conduct of the U.S bank and person C.
Trending nowThis is a popular solution!
Chapter 12 Solutions
MindTap Business Law, 1 term (6 months) Printed Access Card for Cross/Miller's The Legal Environment of Business: Text and Cases, 10th (MindTap Course List)
- Jackson Manufacturing applies overhead using a normal costing approach based on machine-hours. Budgeted factory overhead was $312,000, and budgeted machine-hours were 20,800. Actual factory overhead was $330,480, and actual machine-hours were 21,400. How much is the over- or underapplied overhead? Answerarrow_forwardSaffron Industries had their total liabilities increased by $7,300 and stockholders' equity decreased by $4,200 during a period of time. Then total assets must have changed by what amount and direction during that same period?helparrow_forwardFind turnover and average total assetsarrow_forward
- Jackson Manufacturing applies overhead using a normal costing approach based on machine-hours. Budgeted factory overhead was $312,000, and budgeted machine-hours were 20,800. Actual factory overhead was $330,480, and actual machine-hours were 21,400. How much is the over- or underapplied overhead?arrow_forwardaverage total assets.arrow_forwardBradley Industries applies manufacturing overhead on the basis of direct labor-hours. At the beginning of the most recent year, the company based its predetermined overhead rate on total estimated overhead of $245,000 and 7,000 estimated direct labor-hours. Actual manufacturing overhead for the year amounted to $243,500, and actual direct labor-hours were 6,950. The applied manufacturing overhead for the year was closest to __.arrow_forward
BUSN 11 Introduction to Business Student EditionBusinessISBN:9781337407137Author:KellyPublisher:Cengage Learning
Essentials of Business Communication (MindTap Cou...BusinessISBN:9781337386494Author:Mary Ellen Guffey, Dana LoewyPublisher:Cengage Learning
Accounting Information Systems (14th Edition)BusinessISBN:9780134474021Author:Marshall B. Romney, Paul J. SteinbartPublisher:PEARSON
International Business: Competing in the Global M...BusinessISBN:9781259929441Author:Charles W. L. Hill Dr, G. Tomas M. HultPublisher:McGraw-Hill Education