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An individual, Sam Rice, was injured while setting off fireworks manufactured by the BIGBOOM Fireworks Company. Rice was a resident of the state of Wyoming. He was injured after lighting the fireworks in Wyoming. The BIGBOOM Fireworks Company was located in the State of Maryland. It sold fireworks to a wholesaler in New Jersey, which then sold them to a retail fireworks store in Wyoming. The individual’s injuries cost him – in terms of doctor’s bills and missed income from not being able to work – well over $200,000. The individual sued BIGBOOM Fireworks under Wyoming common law for negligence. He filed his civil lawsuit against the company in Wyoming state court. BIGBOOM Fireworks did not, however, respond to or otherwise contest Rice’s lawsuit and Rice was awarded $425,000 in damages by the trial court. Based on the legal information that you learned in this chapter, write a 1-2 sentence answer for each of the following questions.
What state law would Rice have invoked in trying to show that the Wyoming state court had personal jurisdiction over BIGBOOM Fireworks?
When terminating a project for capital budgeting purposes, the working capital outlay required at the initiation of the project will:
IDX Technologies is a privately held developer of advanced security systems based in Chicago. As part of your business development strategy, in late 2016 you initiate discussions with IDX’s founder about the possibility of acquiring the business at t..
Water board bonds have face value of 1000 but issued at a discount of 10. Interest is payble half yearly at 16%.- Find the effective rate on face value.
Filer Manufacturing has 5 million shares of common stock outstanding. The current share price is $77, and the book value per share is $8. Filer Manufacturing also has two bond issues outstanding. The most recent dividend was $4.9 and the dividend gro..
The YTM on a bond is the interest rate you earn on your investment if interest rates don’t change. If you actually sell the bond before it matures, your realized return is known as the holding period yield (HPY). Two years from now, the YTM on your ..
ABC Bank originated a pool of containing 500 three-year fixed-rate mortgages with loan amount of $150,000 each. All mortgages in the pool carry a rate of 7% with annual payments. The guarantee and servicing fee is 1%. what is the price for each share..
The after-tax cost of preferred stock financing is estimated to be 14 percent.- Compute the marginal cost of capital schedule for Colbyco, and determine the break points in the schedule.
Kim Lee is trying to decide whether she can afford a loan she needs in order to go to chiropractic school. Right now Kim is living at home and works in a shoe store, earning a gross income of $1010 per month. Calculate her debt payments-to-income rat..
On February 18, 2014, Q-Car Corporation announced its plan to acquire 90% of the outstanding 1,000,000 shares InstaPower Corporation’s common stock in a business combination later in the year following regulatory approval. What is the total considera..
A firm has a $55,000 line of credit. The annual percentage rate is the current prime rate plus 4.5%. The balance on March 1 was $12,300. On March 7, the firm borrowed $16,700 to pay for merchandise, and on March 21 it borrowed another $8,800. On Marc..
Chemists at Great Kiwi Industries have developed a new breakfast drink. The drink, called Kiwig, will provide the consumer with twice the amount of vitamin C as currently available in breakfast drinks. Kiwig will be packaged in an 8-oz. What is the c..
You have the following information: S=26, X=20, T=2, r=3.4%, C=15, P=6 Evaluating the situation from a Put-Call Parity framework, what steps would you take to implement an arbitrage strategy?
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