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Martin made an oral contract with Cresheim Garage to work as its manager for two years. Cresheim wrote Martin a letter stating that the oral contract had been made and setting forth all of its terms. Cresheim later refused to recognize the contract. Martin sued Cresheim for breach of the contract and offered Cresheim's letter in evidence as proof of the contract. Cresheim claimed that the oral contract was not binding because the contract was not in writing and the letter referring to the contract was not a contract but only a letter. Was the contract binding?
Lone Star Life Insurance Co. agreed to make a long-term loan to Five Forty Three Land, Inc., whenever that corporation requested one. Five Forty Three wanted this loan to pay off its short-term debts. The loan was never made, as it was never requested by Five Forty Three, which owed the Exchange Bank & Trust Co. on a short-term debt. Exchange Bank then sued Lone Star for breach of its promise on the theory that the Exchange Bank was a third-party beneficiary of the contract to make the loan. Was the Exchange Bank correct?
Calculate the issue price of the bonds?
which of the following statements concerning users of accounting information is incorrect?management is considered an
love corporation sold 2050000 6 10-year bonds on january 1 2010. the bonds were dated january 1 2010 and pay interest
the wyckoff company specializes in decorative fruit baskets. currently the company is analyzing purchase alternatives
There are several methods, LIFO, FIFO, Weighted Average, Market, and Historical Cost. If you are in the retail/wholesale business, would you use the same method that you would use if you were in the manufacturing business?
granite works maintains a debt-equity ratio of 0.65 and has a tax rate of 32 percent. the firm does not issue preferred
describe corporate governance breakdowns in the facilitation of enrons fraudulent acts.lt?xmlnamespace prefix o ns
what age is retirment if 6 growth rate future value 1 mil at 65yrs 35 periods from age 30-64 on 45th birthday bring in
Revenues, gains, and investments by owners are all increases in net assets. What are the distinctions among them?
the impression one gains from the internal inconsistency of many of the arguments upon the which justification of
during the current year the harlow corporation which specializes in commercial construction has the following property
as a recently hired accountant for a small business bearing inc. you are provided with last years balance sheet income
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