the basics of contract formation, Business Law assignment help

Throughout this module you learned the basics of contract formation. An additional requirement of contract formation is consideration. The courts separate legally binding obligations from mere agreements by checking for consideration. Under basic principles of contract law, consideration is the answer to the question, “Why are you entering this contract?” or “What are you receiving for being a party to this contract?”

Consideration, quite simply, is the benefit that each party gets or expects to get from the contractual deal. For example, you paid your college tuition money for an education. You benefit by receiving the educational services of the college, and the college benefits by receiving your tuition money.

For this written assignment, you will further explore the topic of consideration and whether it is present in the following scenarios. Read the facts of the scenario and answer the following questions:

  1. Is there proper consideration? (Further research on consideration is recommended)
  2. Why or why not is there valid consideration?

Your answer to each scenario should be a paragraph in length and must include the source of your information in a properly formatted APA citation.

Scenario 1:

Tasha rents an apartment in an undesirable part of town. While others, such as her Aunt Rita, find it unsuitable, Tasha seems fine with her living situation. She never experiences any problems with the neighbors, and the rent is cheap. One day during a phone call, Aunt Rita tells her that she wants to gift her $10,000 for anything of her choosing. Tasha figures that this is her aunt’s backhanded way of getting her to move, so she decides to search for a home. Upon finding a home, Tasha calls her Aunt Rita and asks for the money. Rita changes her mind and tells Tasha that she no longer wants to give her the money. Angrily, Tasha hangs up the phone and heads to the courthouse to sue her aunt for the $10,000. Is there consideration?

Scenario 2:

Officer Friendly notices a poster announcing that a reward is being offered for the capture of a nefarious criminal, Fred Doesnogood. During his evening patrol, Officer Friendly apprehends and arrests Doesnogood. After he completes his shift he decides to call the number to get the reward seeing as he is the one who captured him. Will he be able to get the reward? Is there consideration?

Scenario 3:

Ezra loves watching home improvement shows, but is not that handy when it comes to doing the actual improvements at his house. During one of his favorite shows, an ad appears for a local painting company that is running a fantastic deal. He calls the number and arranges for Izzy to paint his house on Friday. Izzy shows up on Friday and they agree upon a price of $700.00 for the exterior of the house to be painted. Izzy completes the job to the satisfaction of Ezra, but he does not seem to want to pay. Is there consideration?

 
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criminal justice, law homework help

Answer the following questions:

1: List and briefly discuss eight attributes of Organized Crime (OC). Then justify which of the two attributes that you feel are the “most important” as it regards OC being successful. Be sure to fully support your view/opinion.

2: Investigate and then report on how terrorism differs from organized crime. As part of your response, include the ways they overlap? Pls make sure to provide real life referenced examples that illustrate and help support your view here.

Note: Each Forum response should be “minimum” of 500 words of content (does not count references and or restating a question) and include “at least” two different and properly referenced sources, in accordance with APA 6th edition

Within your post, please place the first Forum response on top of the second, i.e., both Forum responses should be in the same post within the Forum.

 
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Rules of Professional Conduct, law homework help

I

have given you another link to an American Bar Association (ABA) Model

Rules of Professional Conduct. To answer these questions, you will need

to read the rules that deal with the duty of candor toward the tribunal,

or court. Read rules 3.3, 3.4, and 3.8, and feel free to do outside

research as well. Then answer these questions:

1. You work for a defense attorney who is too busy to spend much time

on this brief, which is a motion to suppress evidence seized from the

client pursuant to a search warrant. Several cases are adverse to the

client’s interests, given the facts of the case. Must you disclose

these cases to the court? What about the material facts that are

unfavorable to the client? If the attorney is required to address the

cases and the facts in the brief and in the oral argument, how might she

minimize the damage to the client’s case?

2. You work for a prosecutor in a serious criminal case involving what

appears to be a coerced confession. You also find out that the

defendant in the case was never read his Miranda rights before

the police began the custodial interrogation which resulted in a

detailed confession. There is other evidence linking the defendant to

the crime that was discovered, both before and after the confession (the

evidence discovered after the confession was discovered as a direct

result of the confession). What are your boss’ disclosure duties? You

are sure the defendant is guilty.

Remember to respond to at least two of your classmates’ submissions and to give credit to your sources using Bluebook format! Additionally, your primary submission to this forum must be AT LEAST 500 words in length.

/www.americanbar.org/groups/professional_responsibi…

 
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Accounting

Multiple Choice Question 152

Which of the statements below is not true?

Multiple Choice Question 66

A candy factory’s employees work overtime to finish an order that is sold on February 28. The office sends a statement to the customer in early March and payment is received by mid-March. The overtime wages should be expensed in

Multiple Choice Question 52

Management usually desires ________ financial statements and the IRS requires all businesses to file _________ tax returns.

Multiple Choice Question 113

If business pays rent in advance and debits a Prepaid Rent account, the company receiving the rent payment will credit

Multiple Choice Question 77

Which one of the following is not a justification for adjusting entries?

Multiple Choice Question 125

At March 1, Psychocandy Inc. reported a balance in Supplies of $200. During March, the company purchased supplies for $750 and consumed supplies of $800. If no adjusting entry is made for supplies

Multiple Choice Question 142

Stone Roses Candies paid employee wages on and through Friday, January 26, and the next payroll will be paid in February. There are three more working days in January (29–31). Employees work 5 days a week and the company pays $1,500 a day in wages. What will be the adjusting entry to accrue wages expense at the end of January?

Multiple Choice Question 119

Fugazi City College sold season tickets for the 2014 football season for $240,000. A total of 8 games will be played during September, October and November. In September, two games were played. In October, three games were played. The balance in Unearned Ticket Revenue at October 31 is

Multiple Choice Question 148

Employees at Tengo Corporation are paid $15,000 cash every Friday for working Monday through Friday. The calendar year accounting period ends on Wednesday, December 31. How much salaries and wages expense should be recorded two days later on January 2?

Multiple Choice Question 95

The balance in the supplies account on June 1 was $5,200, supplies purchased during June were $3,500, and the supplies on hand at June 30 were $3,000. The amount to be used for the appropriate adjusting entry is

 
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Land Capital, assets, accounting homework help

) Rogers owns land that is operated as a parking lot. A shed was erected on the lot for the related transactions with customers. With regard to capital assets and Section 1231 assets, how should these assets be classified?



a. b. c. d.

2) a. b. c. d.

3) a. b. c. d.

Land Capital

Section 1231 Section 1231 Capital

Shed Capital Capital

Section 1231 Section 1231

Which of the following sales should be reported as a capital gain? Sale of equipment.
Sale of inventory.
Real property subdivided and sold by a dealer.

Government bonds sold by an individual investor. Which of the following items is a capital asset?

Real property used in a trade or business. Accounts receivable for inventory sold. An automobile for personal use. Depreciable business property.

4) A heavy equipment dealer would like to trade some business assets in a nontaxable exchange. Which of the following exchanges would qualify as nontaxable?

  1. A road grader held in inventory for another road grader.

  2. The company jet for a large truck to be used in the corporation.

  3. A corporate office building for a vacant lot.

  4. Investment securities for antiques to be held as investments.

5) A sole proprietor of a farm implement store sold a truck for $15,000 that had been used to make service calls. The truck cost $30,000 three years ago, and $21,360 depreciation was taken. What is the appropriate classification of the $6,360 gain for tax purposes?

  1. Section 1231 gain.

  2. Long-term capital gain.

  3. Ordinary gain.

  4. Short-term capital gain.

6) Lanham, Inc. incurs the following losses on disposition of business assets during the year:

Loss on the abandonment of office equipment Loss on the sale of a building (straight-line depreciation taken in prior years of $200,000) Loss on the sale of delivery trucks

$25,000

250,000 15,000

What is the amount and character of the losses to be reported on Lanham’s tax return?

  1. $290,000 Section 1231 loss.

  2. $40,000 Section 1231 loss only.

  3. $40,000 Section 1231 loss, $250,000 long-term capital loss.

  4. $40,000 Section 1231 loss, $50,000 long-term capital loss.

7) A taxpayer sold for $200,000 equipment that had an adjusted basis of $180,000. Through the date of the sale, the taxpayer had deducted $30,000 of depreciation. Of this amount, $17,000 was in excess of straight-line depreciation. What amount of gain would be recaptured under Section 1245 (Gain from Dispositions of Certain Depreciable Property)?

  1. $20,000

  2. $17,000

  3. $13,000

  4. $30,000

8) Four years ago, a self-employed taxpayer purchased office furniture for $30,000. During the current tax year, the taxpayer sold the furniture for $37,000. At the time of the sale, the taxpayer’s depreciation deductions totaled $20,700. What part of the gain is taxed as long-term capital gain?

  1. $0

  2. $27,700

  3. $20,700

  4. $7,000

9) Which of the following transactions or events generates a Section 1231 gain or loss. Assume all assets are held for more than one year. For each option explain your answer.

  1. Theft of an uninsured diamond engagement ring, with $8,000 basis and a $15,000 FMV.

  2. Gain due to condemnation of land used in a business.

  3. Loss on sale of a warehouse.

  4. Gain of $4,000 on the sale of equipment. Depreciation deductions allowed were $10,000.

10) Lorenzo owns equipment that cost $500,000 and has an adjusted basis of $230,000. If the straight-line method of depreciation had been used, the adjusted basis would have been $300,000.

a. What is the maximum selling price that Lorenzo could sell the equipment for without having to recognize any Section 1245 ordinary income?

b. If he sold the equipment and had to recognize $61,000 of Section 1245 ordinary income, what was his selling price? 

 
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Auditor Communications and Audit Scope Limitations, business and finance homework help

Discussion: Auditor Communications

Explain briefly (a) written representations, (b) internal control communications, and (c) management letters. In your answer, include the general content of the communication, the parties involved with the communication, the required form of the communication, and whether the communication is required under generally accepted auditing standards. 

3 paragraphs and at least two (2) academic sources.

Discussion : Audit Scope Limitations

Define a scope limitation and distinguish between client-imposed and circumstance-imposed scope limitations. What reporting options are available to auditors when scope limitations are encountered during the engagement? 

3 paragraphs and at least two (2) academic sources.

 
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In your own words, how would you describe “ambush marketing”? , business and finance assignment help

Unit VI Case Study

For this assignment, you will read a case and answer a series of questions concerning an analysis of ethical considerations governing marketing practices, as leaders are responsible for such endeavors. Begin by reading the following case, which can be located within the Business Source Complete database of the CSU Online Library. Datamonitor. (2010, July). Ambush marketing case study: Successfully leveraging high-profile events to raise brand profile. Then, draft a two-page paper by addressing each of the following items:

 In your own words, how would you describe “ambush marketing”? Include two examples with your description.

 What are the advantages and disadvantages (risks and consequences) of ambush marketing?

 What was Bavaria Beer hoping to achieve through its ambush marketing tactics?

 Would you consider Bavaria Beer’s ambush marketing an unethical practice or simply a competitive strategy? Explain.

 Can ambush marketing be both intentional and unintentional? Explain.

 As a leader of an organization, would you allow the practice of ambush marketing? Explain.

Be sure to demonstrate a clear analysis as you address each question. Use APA style to format your assignment. For assistance in formatting your paper, refer to the Citation Guide. You are not required to complete additional research for this assignment; however, if you do, use APA Style to cite your sources.

 
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Clampdown in China Restricts, management assignment help

Here is the link for an article I want you to summarize it and become with some main points. The article topic (Clampdown in China Restricts 7,000 Foreign Organizations) 

The summary should be around 250-300 words. 

Please let me know if you have any questions. 

Thanks. 

 
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Accounts Receivable Bad Debt Expense, accounting homework help

  • Based on the information in the video, discuss the primary advantages and disadvantages of applying the direct write-off over the allowance method of writing off accounts. Take a position on whether or not estimating the allowance for doubtful accounts provides the opportunity to distorts gross income.

Click link below

https://www.youtube.com/watch?v=r3YPSwFsIps&feature=youtu.be

 
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Entrepreneurial, business and finance homework help

I have attached a file of my bug report 1 and the instructions for bug report 2. I need you to do bug report 2 based on my bug report 1. I didn’t try my best for report 1 because I work full time and don’t have time to do all of my HW but please try to work with it. Please don’t plagiarize i will check. Thank you!

 
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