Martha Owns a Gutter Cleaning Business

question 37

Multiple Choice

Martha owns a gutter cleaning business.Under a service contract with John Miller,she substantially performed her obligations.She is entitled to receive:

• A)the full contract price.
• B)nothing until she fully performs.
• C)the full contract price minus the value of the defects.
• D)nothing as she has breached the contract.

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Definitions:

Noncontrolling Interest

An ownership position in a corporation in which the shareholder does not have sufficient voting power to enact changes or control the company’s operations.

Strategic Reasons

The underlying motives or rationales that guide a company's decisions and actions to achieve long-term objectives and competitive advantage.

Speculative Reasons

Motivations for making investments based on the expectation of substantial returns in the future, despite the risk of significant losses.

Intent to Convert

The expressed or implied intention of a holder of a convertible security or instrument to change it into a different form, usually into shares of stock.