Joan Lane took her white satin wedding dress, trimmed with beads and sequins, to a dry cleaner
When Joan questioned why she had to sign a receipt, the clerk told her that this form exempted the cleaner from liability for damage to the beads and sequins. In fact, the clause read: "The company is not responsible for any damage, however caused." When Joan picked up the dress, the beads and sequins were fine, but there was a large stain on the satin. Joan sues. Can the cleaner rely on this exemption clause?
A) Yes. Even interpreting it strictly against the cleaner, "any damage" includes damage to the satin.
B) No. The clerk made a misrepresentation as to the effect of the clause.
C) No. There has been a fundamental breach of this contract by the cleaner.
D) Yes. The clerk specifically brought the clause to Joan's attention before she signed.
E) Both B and C
E
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Jones Retail
had the following balances and transactions during 2017: Beginning Inventory 20 units at $74 June 10 Purchased 35 units at $84 December 30 Sold 30 units December 31 Replacement cost $64 The company maintains its records of inventory on a perpetual basis using the first-in, first-out inventory costing method. Calculate the amount of ending Merchandise Inventory on December 31, 2017 using the lower-of-cost-or-market rule. A) $2,240 B) $1,600 C) $1,850 D) $1,480
Alan Curtis, who is single, had an adjusted gross income of $40,000 in 2017, and he used the standard deduction in his 2017 return. During 2017, Alan contributed $300 to the building fund of State University. What amount was deductible for contributions in Alan's 2017 return?
a. $0 b. $50 c. $100 d. $300