The Legal Environment of Business: Text and Cases
9th Edition
ISBN: 9781305764460
Author: Frank B Cross/ Roger LeRoy Miller
Publisher: CENGAGE C
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Chapter 8, Problem 4CT
Summary Introduction
Case summary:The company SS filed a suit against many online retailers for infringement of the patent right. All online retailers paid damages but one of them filed a case in court and won the case. The court passed the judgment that online shopping cart patent claim was not enforceable because the technology already existed before the company S obtained the patent over it.
To Find:Whether the elimination of software patent would be fair to software and technology companies.
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During the year, Kiner Company made an entry to write off a $9,000 uncollectible account. Before this entry was made, the balance in accounts receivable was $315,000 and the balance in the allowance account was $27,000. The net realizable value of accounts receivable after the write-off entry was: A. $200,000. B. $184,000. C. $176,000. D. $288,000. answer
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The Legal Environment of Business: Text and Cases
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