Assume That Playground Corp

question 24

Multiple Choice

Assume that Playground Corp. has agreed to construct a new playground for Township County for $2,300,000 dollars. Construction of the new playground will begin on March 17, 2007 and is expected to be completed in August 2008. At the signing of the contract Playground Corp. estimates that the it will cost $1,600,000 dollars to build the playground. At the end of 2007 Playground provided the following information about the project:
What percentage is playground complete?

• A) 62.5%
• B) 43.5%
• C) 55.6%
• D) 50.0%

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Definitions:

Contractual Relationship

A legal connection between two or more parties that is established by a contract, outlining the rights and obligations of each party.

Good Faith

The sincere intention to be fair, open, and honest, regardless of the outcome of the interaction.

Enforceable Contract

A legally binding agreement between parties that can be enforced by law if not fulfilled as agreed.

Misrepresentation

The act of providing false or misleading information, often with the intent to deceive others during agreements or transactions.