Kent Corp(KC),general Contractors Building a New Dorm at a University,contracted with with Fine

question 8

True/False

Kent Corp.(KC),general contractors building a new dorm at a university,contracted with Fine Rugs Inc.(FRI)to have certain grade of industrial rugs installed in the dorm.The contract price was $180,000.After the rugs were installed,KC was dissatisfied with the rug quality.FRI insisted that the rugs installed were appropriate to the contract specifications and demanded full payment.KC sends FRI a check for $120,000 which they believe is the proper value for the rugs installed and they mark the check,"Paid in Full".FRI writes "Under Protest" and deposits the check.FRI may now,in most states,successfully sue KC for the balance of $60,000.

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Definitions:

Security System

A combination of hardware and software used to prevent unauthorized access to a building or computer network.

Display Case

A fixture used in stores for showcasing merchandise or collectibles, often featuring glass or clear plastic sides for visibility.

Advertising Expenses

Costs incurred to promote products or services through various media to attract customers.

Monthly Rent

A recurring expense for using property or equipment, paid on a monthly basis.