The owner of a one-acre parcel of land with a small house on it rented the property to a professor of a nearby college at a monthly rental of $500. Several years later, after the professor got tenure, the parties orally agreed that the professor would purchase the property from the owner for the sum of $60,000, payable at the rate of $500 a month for 10 years. They agreed that the owner would give the professor a deed to the property after five years had passed and $30,000 had been paid toward the purchase price, and that the professor would execute a note secured by a mortgage for the balance. The professor continued in possession of the property and made all monthly payments in a timely fashion. When he had paid $30,000, he tendered a proper note and mortgage to the property owner and demanded that she deliver the deed as agreed. The owner refused because valuable minerals had been discovered on adjacent parcels in recent months, causing the value of this parcel of land to increase to 10 times its former value. The professor brought suit against the property owner for specific performance. If the court rules in favor of the property owner, what is the likely reason

Answers

Answer 1

Answer: See explanation

Explanation:

Based on the information that were provided in the question, in a situation whereby the court rules in favor of the property owner, the most likely reason for this will be because the payment of the professor are as consistent just exactly as if they had a landlord-tenant relationship between them even though it was just an oral contract that they both had.

In this case, since the professor met his term of the agreement, then he should be given the property.


Related Questions

Organizations spend a lot of money enabling employees to solve problems collectively. But inducing more collaboration may actually hinder the most important part of problem-solving: actually solving the problem. Should the organizations let their employees do work individually?

Answers

Answer:

There are positive and negative risks to every new strategy implemented in an organization. In the case of giving more independence to employees by letting them work individually, the company can indeed have positive results, such as increased individual productivity of employees, reduction of conflicts, greater innovation and problem solving.

But before implementing any strategy, the company must consider its structure, objectives and values, and then carry out an analytical plan that makes it possible to understand if this is a positive strategy, as there are businesses that need collective work so that they can be developed effectively .


Which consideration must a society address when deciding for whom to produce a potentially scarce or limited
resource?
O Who can be most creative with the product?
O Who has the largest resource pool?
O Who has the greatest need?
O Who can bring in the greatest profit?

Answers

Answer:

who has the greatest need

Explanation:

A society will give consideration to those who have the greatest need for a scarce resource when producing them.

What are scarce resources?

Scarce resources refers to those resouces which are in limited quantity whereas the demand for them is great.

Scarce resources must be managed effectively in order to ensure that they are not exhausted and that they get to those most in need of them.

Therefore, a society will give consideration to those who have the greatest need for a scarce resource when producing them.

Learn more about scarce resources at: https://brainly.com/question/3081250

What types of services do property taxes typically pay for?​

Answers

Answer:

The local governing body will use the assessed taxes to fund water and sewer improvements and provide law enforcement, fire protection, education, road and highway construction, libraries and other services that benefit the community.

Which of the following is TRUE? " When a market price allocates resources, everyone who is able to pay the price gets the resource. " A command system works well when the lines of authority and responsibility are clear. " When the government decides how to allocate tax dollars among competing uses, resources are allocated by command." " When a manager offers everyone in the company the opportunity to win a prize, resources are allocated by a market price."

Answers

Answer: When a market price allocates resources, everyone who is able to pay the price gets the resource.

Explanation:

The market allocates prices to goods and services based on the scarcity of the said goods and services. This means that regardless of how scarce a good is, you can get it if you are willing to pay the price that it is being offered at.

For instance, if the price of tomatoes suddenly went up from $4 to $12 per pack, it means that tomatoes are now more scarce and not many people can afford it. If you can afford that $12 however, you will be able to get the tomatoes despite how scarce it is.

Glade Co. leases computer equipment to customers under sales-type leases. The equipment has no residual value at the end of the lease, and the leases do not contain purchase options. At lease inception, the fair value of the leased computer equipment equals its carrying amount. Glade wishes to earn 8% interest on a 5-year lease of equipment with a fair value of $323,400. The present value of an annuity due of $1 at 8% for 5 years is 4.312. What is the total amount of interest revenue that Glade will earn over the life of the lease

Answers

Answer:

$51,600

Explanation:

Calculation to determine the total amount of interest revenue that Glade will earn over the life of the lease

Using this formula

Total interest = lease of equipment years *(Lease equipment fair value/ Present value of annuity due) -Lease equipment fair value

Let plug in the formula

Total interest=5* ($323,400/4.312)- $323,400

Total interest=5*$75,000-$323,400

Total interest=$375,000-$323,400

Total interest= $51,600

Therefore the total amount of interest revenue that Glade will earn over the life of the lease is $51,600

justify why a perfect market is unrealistic​

Answers

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Last year, you purchased a stock at a price of $52.00 a share. Over the course of the year, you received $1.70 per share in dividends and inflation averaged 2.2 percent. Today, you sold your shares for $56.60 a share. What is your approximate real rate of return on this investment?

Answers

Answer:

9.915 %

Explanation:

Rate of return = ($56.6 - $52 + $1.70)/ $52 * 100

Rate of return = 0.121154 * 100

Rate of return = 12.115%

Inflation = 2.2 %

Real rate of return = 12.115% - 2.2%

Real rate of return = 9.915 %

Brothers Tim and Jim Shanton have asked you, their financial advisor, to settle a friendly quarrel between them. Tim argues that a Roth IRA and a traditional IRA are actuarially equivalent if $4,000 is available for investing on a before-tax basis, contributions to the traditional IRA are deductible, tax rates are expected to stay the same, and both have the same interest rates. So, it makes no difference which vehicle one uses to save for retirement. Jim insists that a Roth IRA is the better investment. You tell them
a. Tim is wrong; the tax deduction available for a traditional IRA allows more money to work for the contributor
b. Jim is wrong; at least for some low income individuals, the traditional IRA is a better investment because of their relatively lower tax rates
c. Tim is right; the two investments are equivalent in every respect when considered at the end of an investment horizon at least 10 years long
d. Jim is right; the ability to make tax-free withdrawals from Roth IRA gives a greater return even when contributions and interest rates are equivalent over time
e. both are right; the two investments are actuarially equivalent, but absence of a minimum distribution date and more liberal penalty-free withdrawal options may make the Roth IRA more attractive

Answers

Answer: E. both are right; the two investments are actuarially equivalent, but absence of a minimum distribution date and more liberal penalty-free withdrawal options may make the Roth IRA more attractive.

Explanation:

First and foremost, actuarially equivalent simply means a benefit that is of equivalent value, but which has a different payment form to a specified benefit.

From the information that's given in the question, we can deduce that both of them are right as the two investments are actuarially equivalent, but there's an absence of a minimum distribution date and more liberal penalty-free withdrawal options may make the Roth IRA more attractive.

Therefore, the correct option is E.

If a loan has a nominal annual rate of 8%, then the effective rate can never be greater than 8%. b. If a loan or investment has annual payments, then the effective, periodic, and nominal rates of interest will all be different. c. The present value of a 3-year, $150 annuity due will exceed the present value of a 3-year, $150 ordinary annuity. d. The proportion of the payment that goes toward interest on a fully amortized loan increases over time.

Answers

Answer:

c. The present value of a 3 year, $150 annuity due will exceed the present value of a 3 year, $150 ordinary annuity.

Explanation:

Annuity is a lump sum payment of the present value of invested amount or profits which is to be received by the investor at the maturity date. The annual profits are summed up and then annuity is calculated to identify the real worth of money expected to be received in future.

What are human rights

Answers

The answer is Human rights are rights inherent to all human beings, regardless of race, sex boy or girl, nationality, ethnicity, language, religion, or any other status. Human rights include the right to life and liberty, freedom from slavery and torture, freedom of opinion and expression, the right to work and education, and many more.

Which of the following is a correct listing of money's functions? Question 6 options: source of credit, value of transaction costs, unit of barter medium of barter, medium of exchange, medium of transactions unit of barter, unit of account, a unit of income store of value, store of exchange, measure of account store of value, medium of exchange, unit of account

Answers

Answer:

store of value, medium of exchange, unit of account

Explanation:

Money can be defined as any asset used by an individual or business entity to make purchases of goods and services at a specific period of time.

Simply stated, money refers to any asset which can be used to purchase goods and services by customers.

This ultimately implies that, money is any recognized economic unit that is generally accepted as a medium of exchange for goods and services, as well as repayment of debts such as loans, taxes across the world.

Additionally, the rate at which an asset can be used to purchase any goods or services refers to its liquidity. Thus, liquidity is a quality or characteristics of money as a medium of exchange. Therefore, money is a generally accepted medium of exchange around the world.

In economics or financial accounting, a correct listing of money's functions are;

I. Store of value.

II. Medium of exchange.

III. Unit of account.

Bill plans to deposit $200 into a bank account at the end of every month. The bank account has a nominal interest rate of 8 percent and interest is compounded monthly. How much will Bill have in the account at the end of 2½ years (30 months)?

Answers

I think you will have 6,000 by the end of 2 years

The amount that should have in the account at the closing of 30 months is $6,617.77.

Given that,

The rate of interest = 8% ÷ 12 = 0.6666%The nper is = 2.5 × 12 = 30The monthly payment or pmt is $200The present value be $0

Now the following formula should be used:

=-FV(RATE,NPER,PMT,PV,TYPE)

After applying the above formula, the future value is $6,617.77.

Therefore we can conclude that The amount that should have in the account at the closing of 30 months is $6,617.77.

Learn more about the future value here: brainly.com/question/8286272

Your clients don't need to be sold a product - they have already subscribed to your expensive premium service. But they do need to be able to call on you when they have a problem with the service or when they require special consideration. You provide technical support, solve problems, and make sure the customer is included in special events that your company sponsors. You also make certain that everyone who is a premium subscriber is sent an annual gift, compliments of your company. Because you don't meet your customers face-to-face, you sometimes call yourself an electronic concierge! What kind of sales are you involved in

Answers

Answer:

Inside selling

Explanation:

Inside selling is also called remote or virtual selling and involves sale of goods and services using phone email or the internet to reach out to customers.

This is the opposite of in person sales.

It is commonly used in Business to Business or Business to Customer sales.

In the given scenario you don't meet your customers face-to-face, you sometimes call yourself an electronic concierge. Also everyone who is a premium subscriber is sent an annual gift, compliments of your company.

This is inside selling

How can buisness decision affect the local community??

Answers

Answer:

Small businesses will also participate and volunteer their time at fairs and festivals, working to connect with members of the community while sharing their services to a large audience.Local businesses pay local taxes, bolstering the city revenue available for improvements to roads, schools, and area green spaces. When shoppers spend their money locally, the taxes they pay benefit their community and better their own lives. Shopping online, for example, may not keep tax revenue local.

Deet, an unmarried taxpayer, qualified to itemize deductions. Deet's adjusted gross income was $40,000 and he made a $1,500 substantiated cash donation directly to a needy family. In the same year, Deet also donated art, valued at $11,000, to a local art museum. Deet had purchased the artwork two years earlier for $2,000. What was the maximum amount of the charitable contribution allowable as an itemized deduction on Deet's income tax return

Answers

Answer:

$11,000

Explanation:

Based on the information given What will be the MAXIMUM AMOUNT OF THE CHARITABLE CONTRIBUTION ALLOWABLE as an itemized deduction on Deet's income tax return will be the amount of $11,000 which represent the amount the art value that Deet donated to the local art museum which was valued at $11,000.

Therefore the maximum amount of the charitable contribution allowable as an itemized deduction on Deet's income tax return is $11,000

Calculate how many hours his non-salary employees will take to create a large order of 1,000 shoes. What kind of budget would Jose create?

Answers

This question is incomplete but will answer this based on what I guess you're asking.

Answer and Explanation:

Assume there are 10 employees for the small factory that makes shoes.

Let's assume each non-salary employee spends 30 minutes on each pair of shoes before it finishes, and charges $10 per hour.

1000 pairs of shoes would take 1000×0.5×10= 5000 hours(208 days and a few hours)

Total budget for non-salary employees= 5000 hrs×$10= $50000

Therefore Jose would need a $50000 budget given the variables above.

Stock prices tend to ignore unexpected changes in dividend payments. Companies prefer to cut dividend payments rather than borrow money to fund a short-term cash need. Maintaining a steady dividend is a key goal of most dividend-paying companies. Share repurchases tend to increase agency costs. Short-term fluctuations in cash flows are the key factor in determining a company's dividend policy

Answers

Answer: B. Maintaining a steady dividend is a key goal of most dividend-paying companies.

Explanation:

Companies that pay dividends prefer in general, to maintain a steady dividend overtime. This does not necessarily mean that they will pay the same amount of dividend but rather that they will pay out dividends as within a certain percentage range of the net income.

Companies do not prefer to cut dividends so as not to send the wrong message so A is wrong. Share repurchases reduces agency costs so C is wrong. Short term fluctuations in cash flow are not the key favor in determining dividend policy as the company might still pay out the same regardless so this is wrong as well. Option B is the best answer.

Broker Blake enters into a written agreement to represent seller Kelly and buyer Jenny that also authorizes Blake to act as an intermediary. The written agreement does not specifically address authority for making appointments. If Jenny now wishes to enter into negotiations for the purchase of Kelly's property, what must Blake do before making appointments for his two clients

Answers

Answer: Obtain written consent from Seller Kelly and Buyer Jenny to make appointments

Explanation:

In a situation whereby Blake wishes to enter into negotiations for the purchase of Kelly's property, then Blake needs to obtain written consent from Seller Kelly and Buyer Jenny to make appointments.

The reason for this is because Blake already has a written agreement to represent seller Kelly and buyer Jenny that also authorizes Blake to act as an intermediary.

Can you explain how I can get the surplus?

Answers

Answer:

The answer is "6".

Explanation:

Using formula:

[tex]\text{Producer surplus= Actual Price- Minimum Acceptable Price}\\\\[/tex]

                          [tex]=13-7\\\\=6[/tex]

Which of the following formulas determines the budgeted units to be produced? Expected Units to Be Sold – Desired Units in Ending Inventory + Estimated Units in Beginning Inventory Expected Units to Be Sold – Desired Units in Ending Inventory – Estimated Units in Beginning Inventory Expected Units to Be Sold + Desired Units in Ending Inventory + Estimated Units in Beginning Inventory Expected Units to Be Sold + Desired Units in Ending Inventory – Estimated Units in Beginning Inventory

Answers

Answer:  Expected Units to Be Sold + Desired Units in Ending Inventory – Estimated Units in Beginning Inventory

Explanation:

To find out the units that should be produced, one should find out the number of units that they would want to sell. They should then add this to the number of units they would prefer to have as ending units that way after they sell the goods they want, they will still have the desired amount in inventory.

Seeing as there might be some goods in inventory called beginning inventory already, this should then be deducted from the above to see the number of units that should be produced in excess of these goods that are already in stock.

Adrianne is a package delivery service manager. She is interested in implementing ________, the management philosophy pioneered by Frederick W. Taylor and Frank and Lillian Gilbreth, which scientifically studies work methods to improve the productivity of individual workers. In this particular case, Adrianne will study the routes that drivers take through a congested to city in order to identify ways that delivery staff can make the most deliveries in each two-hour period. Group of answer choices quantitative management contingency management management science human relations management scientific management

Answers

Answer:

scientific management

Explanation:

Scientific management represent the management theory in which the analysis is done with respect to the workflow. Its main purpose to improve out the economic efficiency and the labor productivity.

So as per the given situation since adrianne will have to study the routes so that the delivery staff could able to make the most deliveries in two -hour period due to which the productivity could be increased

Katie was watching TV late one night and was surprised to see a promotional program for the Sleep Number bed. She had heard of the mattress before and watched a few minutes of the program to learn more. The program mentioned a 60-night full refund and encouraged viewers to contact a toll-free number or place an order via the company's website. What type of promotional activity is the Sleep Number mattress company using

Answers

Answer:

Direct marketing

Explanation:

Direct marketing involves a direct contact made with a customer during a promotional activity.

Channels used during direct marketing includes mail, social media, texting campaign, and phone calls.

In the given scenario the promotional program is encouraging viewers to contact a toll-free number or place an order via the company's website.

These activities involve direct marketing.

The mid-1990s saw a rise in the use of mobile phones in the general population. The technology continued to improve in the early 2000s and in the mid-2000s smartphones revolutionized the way people communicated. The technology has changed very rapidly and improved the lives of consumers. With these rapid changes, what would you suspect has happened to the CPI calculation

Answers

Answer:

The correct option is b. the CPI has understated the cost of living because of quality improvement bias.

Explanation:

Note: This question is not complete as it does not include the answer options. The answer options are therefor provided before answering the question as follows:

a. The CPI has overstated the cost of living because of income bias.

b. The CPI has understated the cost of living because of quality improvement bias.

c. The CPI has overstated the cost of living because of quality improvement bias.

The explanation of the answer is now provided as follows:

The Consumer Price Index (CPI) can be described as a metric that measures the average change in prices paid for a market basket of consumer goods by urban consumers over time.

Quality improvement bias occurs when price indexes do not incorporate information about good quality over time in addition to their nominal price.

Better and greater speeds and functionalities have become available as a result of advancements in computer chips and improved the lives of consumers, all without incorporating the information in CPI.

Therefore, the correct option is b. the CPI has understated the cost of living because of quality improvement bias.

Post the following November transactions to T-accounts for Accounts Payable, Inventory, and Cash, indicating the ending balance. Assume no beginning balances in Accounts Payable and Inventory, and a beginning Cash balance of $36,000. A. Purchased merchandise inventory on account, $16,900. B. Paid vendors for part of inventory purchased earlier in month, $11,100. C. Purchased merchandise inventory for cash, $10,400.

Answers

Answer and Explanation:

The preparation of the T-accounts are as follows:

For Account payable

Cash      $11,100            Inventory  $16,900

Balance $5,800

Total      $16,900          Total          $16,900

For Inventory

Account payable    $16,900

Cash                       $10,400             Balance    $27,300

Total                       $27,300            Total          $27,300

For cash

Opening balance    $36,000    Account payable  $11,100

                                                   Inventory               $10,400

                                                   Balance                 $14,500

Total                         $36,000    Total                      $36,000

Which of the following statements best characterizes the bottom line of security for e-commerce?

A) Good security is expensive but critical, and it is the responsibility of the customer to ensure that his or her private information is secure.

B) Good security is inexpensive but critical, and it is the responsibility of the customer to ensure that his or her private information is secure.

C) Good security is expensive but crítical, and it is the responsibility of the business to ensure that the customer's private information is secure.

D) Good security is inexpensive but critical, and it is the responsibility of the business to ensure that the customer's private information is secure.

Answers

Answer:

Good security is expensive but critical, and it is the responsibility of the business to ensure that the customer's private information is secure. C

Explanation:

The Happy Days Day Care is hiring a child care worker.On the employment application,Happy Days specifically asks if the applicant has ever been arrested.Tina applies for a job at Happy Days and answers no to that question.She also answers no to the question that asks if there is any reason that she would not be qualified to work with children.Soon after Tina is hired,she severely shakes a baby to stop it from crying,causing the baby injuries.It is discovered at trial that Tina has been fired from numerous day cares for baby shaking and various other offenses.If the baby's parents sue Happy Days:
A) Happy Days is not liable because it made a good faith effort to screen applicants and because it specifically asked about past indiscretions.
B) Happy Days is liable because Tina was dealing not with the public but only with children.
C) Happy Days is liable for negligent hiring.
D) Happy Days is liable for negligent retention.

Answers

Answer: C) Happy Days is liable for negligent hiring.

Explanation:

Happy Days is liable for negligently hiring Tina. As the employer and especially as one working with children, the onus is on them to verify the information given to them by Tina.

Had they verified the information, they would have found out that Tina was not supposed to be taking care of children due to her violent tendencies. They would therefore not hire her and this ugly situation would have been avoided.

An investor is considering investing in a stock they plan to hold for 2 years. The stock is expected to pay dividends of $1.50 per share in each of the 2 years and sell for $20 at the end of two years. If the investor requires an 8% return on this stock, how much should they pay for it using the Dividend Discount Model?

Answers

Answer: $19.82

Explanation:

The price the investor would be willing to pay today would be the present value of the dividends and the selling price at the end of 2 years using the required return as the discount rate.

= 1.50 / (1 + 8%)  + 1.50 / (1 + 8%)²   + 20 / (1 + 8%)²

= 1.3888889 + 1.286 + 17.1467764

= $19.82

In the open-economy macroeconomic model, if for some reason foreign citizens want to purchase more U.S. goods and services at each exchange rate, then a. the demand for dollars in the market for foreign-currency exchange shifts right. b. the demand for dollars in the market for foreign-currency exchange shifts left. c. the supply of dollars in the market for foreign-currency exchange shifts right. d. the supply of dollars in the market for foreign-currency exchange shifts left.

Answers

Answer: a. the demand for dollars in the market for foreign-currency exchange shifts right.

Explanation:

If foreigners wanted to buy more U.S. goods and services, they would demand more dollars to do so as U.S. goods and services are denominated in dollars. This would shift the demand curve for U.S. dollars to the right to reflect the increase.

With the demand curve having shifted right, it will intersect with the supply curve at a higher rate. This new equilibrium point would mean a higher exchange rate which means the U.S. dollar would get stronger.

which is not an example of transfer income.
a) dividend
b) rent
c) pensions
d) scholarship grant to students​

Answers

Answer:

A - dividen

Explanation:

A is the answet

for private goods allocated in markets, a. prices guide the decisions of buyers and sellers and these decisions lead to an inefficient allocation of resources. b. the government guides the decisions of buyers and sellers and these decisions lead to an efficient allocation of resources. c. prices guide the decisions of buyers and sellers and these decisions lead to an efficient allocation of resources. d. the government guides the decisions of buyers and sellers and these decisions lead to an inefficient allocation of resources

Answers

Answer:

c. prices guide the decisions of buyers and sellers and these decisions lead to an efficient allocation of resources.

Explanation:

As we know that the private goods are considered to be the rival and excludable so the consumers who pay for the private goods and the producers of the private goods could exercise the property rights over and across them. Also the market efficiently distributed the resources for private goods production

So as per the given situation, the option c is correct

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