Does state university have enforceable agreement with green

Assignment Help Accounting Basics
Reference no: EM132789352

In June 2018, when his daughter Mary was graduating from State University, two trustees of State University visited George Green to solicit funds for the university. The trustees tried to impress on need for the funds and the excellent quality of education his daughter received. Green listened to them and agreed to give $5,000, payable at $1,000 per year June 1 of 2018, 2019, 2020, 2021 and 2022. There was a voice recording of the promise on one of the trustee's phone but no written record. Green paid the 2018 and 2019 amounts but has refused to make any further payments.

Problem 1: Does State University have an enforceable agreement with Green? If they sue him can they collect the balance of $3,000?

Reference no: EM132789352

Questions Cloud

Prepare the journal entry at the date of purchase : Prepare the journal entry at the date of purchase. Pina Inc. has decided to purchase equipment from Central Michigan Industries on January 2, 2020
Prepare for effective-successful contract negotiation : Organizations with clear techniques of negotiation of contracts help managers prepare for effective, successful contract negotiation
Difference between margin trading and short selling : Define and describe the difference between margin trading and short selling. Provide an example of each.
What is the debt-equity ratio : The firm has a capital intensity ratio of 2. What is the debt-equity ratio that is required to achieve the firm's desired rate of growth?
Does state university have enforceable agreement with green : In June 2018, Does State University have an enforceable agreement with Green? If they sue him can they collect the balance of $3,000?
What is the dividend payout ratio : What is the dividend payout ratio? What is the maximum sustainable growth rate for this company?
What are your thoughts about annual incentives to employees : What are your thoughts about annual incentives to employees who complete preventative health visits and labs to promote their health and well-being?
How much balances pertaining to the bond investment : Calculate and explain how much balances pertaining to the bond investment and income accounts will be at the year-end
Gantt chart paper : Create a Gantt chart using at least the five major activities in the sequence you identified in Week Three, assignment one.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd