The Court in the Weichert Co

question 34

Multiple Choice

The court in the Weichert Co. Realtors v. Ryan case held that the performing party was entitled to recoup the reasonable value of the services rendered under:

• A) an express contract.
• B) quantum meruit.
• C) promissory estoppel.
• D) Article 2 of the UCC.

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Definitions:

Merchandise

Items or products that a company buys to sell to its customers in the course of its business.

Journal Entries

The foundational records in accounting that detail all financial transactions, using debits and credits to maintain balance.

Cash Flow Hedge

A type of hedge that is used to manage exposure to variability in cash flows that is attributable to a particular risk associated with a recognized asset or liability or a forecasted transaction.

Forward Contract

A tailor-made deal between two participants to transfer an asset at a fixed price on a specified future date.