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Developers under a plan approved by the city of Rye had constructed six luxury cooperative apartment buildings and were to construct six more. In order to obtain certificates of occupancy for the six completed buildings, the developers were required to post a bond with the city to insure completion of the remaining buildings.
The developers posted a $100,000 bond upon which Public Service Mutual Insurance Company, as guarantor or surety, agreed to pay $200 for each day after the contractual deadline that the remaining buildings were not completed.
After the contractual deadline, more than five hundred days passed without completion of the buildings. The city claims that its inspectors and employees will be required to devote more time to the project than anticipated because it has taken extra years to complete.
It also claims that it will lose tax revenues for the years the buildings are not completed. Should the city prevail in its suit against the developers and the insurance company to recover $100,000 on the bond? Explain.
How can an effective Customer Relationship Management program be used to identify, retain, satisfy and retain customers?
Business organization
(a) What is the wage and level of employment in the urban and rural sector? (b) If restrictions on labour mobility were lifted what would be the total gain/loss to (1) workers that were in the urban area before the change, (2) workers that were in..
Market failure exists in the form of uncompetitive markets and those which negatively or positively affect people who are not participants as buyers or sellers. Provide an example of such a market and indicate how government policy might correct t..
Camille has developed a good network among those in the fashion industry, especially the seamstresses who have been hired by well-known celebrities. One day, Camille spoke with Sonya, the owner and Lead Seamstress for Shazam Clothing Industries. S..
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If $10,000 is invested in this CD, how much will it be worth in 3 years?- How long will it take for the account to be worth $11,000?
What were the consequences of a failure to report? What impact did his decision have on patient safety, on the risk for litigation, on the organization's quality metrics, and on the workload of other hospital departments? As Mike's manager, what w..
Explain federal regulation of advertising has effectively reduced to one-tenth of all advertising during children's television programs
Explain Culture provides the framework that gives its natives "common identity". It conveys what is expected of people in order to be successful and accepted in that culture.
The purpose of this assignment is for students to examine the size and scope of the sports business industry and use that information to identify sports business career opportunities and trends.
For this part of the course project, you will demonstrate your ability to identify how firms raise funds through the use of debt, equity, and retained earnings.
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