In Which of the Following Situations Is Restitution Available as a Remedy

question 67

Multiple Choice

In which of the following situations is restitution available as a remedy?

• A)As an alternative remedy for a party injured by breach.
• B)For a party in default.
• C)For a party who may not enforce the contract because of the statute of frauds.
• D)All of the above are situations in which restitution is available.

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Definitions:

Fixed Asset Requirements

The necessary investments in long-term assets like property, plant, and equipment that a business needs to carry out its operations.

Return On Assets

A financial ratio indicating how profitable a company is relative to its total assets, calculated by dividing net income by total assets.

Operating Cycle

The duration between a company's purchase of inventory and the collection of accounts receivable generated from sales of that inventory.

Accounts Receivable Period

The accounts receivable period measures the average number of days it takes for a company to collect payments after a sale has been made, indicating the efficiency of its credit and collection policies.