Maggie and Nate Enter into a Contract for the Sale

question 12

Multiple Choice

Maggie and Nate enter into a contract for the sale of a car,but Nate later refuses to deliver the car.Maggie asks a court to order Nate to perform as promised.Ordering a party to perform what was promised is

• A)specific performance.
• B)damages.
• C)rescission.
• D)beyond the court's authority.

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Definitions:

Operating Asset

Resources owned by a company that are used in its day-to-day operations to generate revenue, such as machinery, buildings, and equipment.

Return on Investment

A performance measure used to evaluate the efficiency or profitability of an investment.

Stockholders' Equity

Represents the residual interest in the assets of a corporation after deducting its liabilities.

Return on Investment

A profitability metric that measures the gain or loss generated on an investment relative to the amount of money invested.