Double D Ranch and Esau Enter into a Contract on August

question 60

Multiple Choice

Double D Ranch and Esau enter into a contract on August 1 for the sale of 200 cattle. Esau cancels the con?tract ten days later. Double D is unable to sell the cattle to another buyer. Double D is enti?tled to

• A) force Esau to accept the cattle and recover the contract price.
• B) keep the cattle and recover the contract price from Esau.
• C) keep the cattle only.
• D) recover the contract price from Esau but must destroy the cattle.

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Definitions:

Capital Contributions

Funds or assets given to a company by its owners or shareholders to support the business, which increase equity but are not considered income.

Capital Balance

The amount of money that stakeholders have invested in a company, often shown in the equity section of a balance sheet.

Income Distribution

This refers to the way money is allocated among individuals or groups in an economy, indicating how wages, salaries, and profits are divided.

Capital Contributions

Monetary or other assets provided by owners or shareholders to increase a company's equity.