Answer the Following: A. When Will a Court Specifically Enforce a Contract

question 37

Essay

Answer the following:
a. When will a court specifically enforce a contract?
b. Under what circumstances will a court specifically enforce a contract involving personal services?
c. What remedy did the court award in the Madison Square Garden case? Why did the court award this remedy?

---

Definitions:

Manufacturing Overhead

All manufacturing costs that are not directly tied to a specific product or production activity, including utilities, rent, and salaries for supervisors.

Adjusting Entry

A journal entry made at the end of an accounting period to allocate income and expenditure to the appropriate years.

Direct Materials Costs

The cost of raw materials directly used in the production of goods, which can be easily traced back to the finished product.

Predetermined Overhead Rate

The rate calculated before the period begins, used to allocate manufacturing overhead costs to individual units of production based on a consistent measure, such as direct labor hours.