In a sales contract the seller wanted the closing to take pace before the end of the year. Which clause should the sellr include in the contract to insure punctual performance?

A. "Hold-harmless" clause.
B. "Rescission" clause.
C. "Time is of the essence" clause.
D. "As is" clause.

Answer: C. "Time is of the essence" clause.

Business

You might also like to view...

The range of the values of the Durbin-Watson statistic, d is:

A) -4 ? d ? 4 B) -2 ? d ? 2 C) 0 ? d ? 4 D) 0 ? d ? 2

Business

Caston Company had net income of $5,000,000 for the year ended December 31, 2X10. The stockholders' equity section of the Caston Company at December 31, 2X10 and 20X9, is as follows:

Caston Company Stockholders' Equity Section of the Balance Sheet December 31, 2X10 and 20X9 12/31/2X10 12/31/2X09 11% Preferred stock, $100 par, noncumulative, 75,000 shares authorized; 20,000 shares issued and outstanding $ 2,000,000 $ 2,000,000 Common stock, $1.25 par, 4,000,000 shares authorized; 1,100,000 and 1,050,000 shares issued 1,375,000 1,312,500 Additional paid-in capital-preferred 100,000 100,000 Additional paid-in capital-common 15,200,000 14,437,500 Total paid-in capital $18,675,000 $17,850,000 Retained earnings 17,900,000 14,600,000 Total paid-in capital and retained earnings $36,575,000 $32,450,000 Treasury stock, 12,000 and 10,000 shares of common stock (180,000 ) (150,000 ) Total stockholders' equity $36,395,000 $32,300,000 Determine a. the book value per share of common stock at the end of 2X10. b. the rate of return on common equity for 2X10. c. the amount of cash dividends on common stock declared during 2X10.

Business