Noel Stewart Bought a Machine Two Years Ago for £500

question 18

Multiple Choice

Noel Stewart bought a machine two years ago for £500. He must now replace the old machine by buying a new model 206 for £700 or a used model 204 for £650. Noel has decided to buy model 204.
Noel Stewart has estimated that the total fixed costs for his department are £10,000. He also estimated that his variable cost per unit is £10.
Noel Stewart bought some materials 2 years ago for £300. These materials have simply been left in stock as they were not needed. A new customer offers to buy a product that uses these materials. The conversion cost is £500 and the customer has offered to pay £650 for the product. Noel decides to accept the order.
In making his decision, Noel would consider the differential cost to be

• A)£50.
• B)£200.
• C)£150.
• D)£500

Differentiate between equitable remedies and damages.

Explain the concept of specific performance and under what circumstances it is granted.

Understand how contract terms can limit or specify remedies for breach.

Comprehend the legal implications of liquidated damages clauses.

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Definitions:

Motor-scale Items

Components or tasks within a developmental assessment tool designed to measure the motor skills of infants and young children, such as grasping, sitting, and walking.

Bayley Test

A developmental screening test designed to assess motor, language, and cognitive development in infants and young children.

Bayley Scales

The Bayley Scales are standardized tests used to assess the developmental functioning of infants and toddlers, focusing on cognitive, motor, and emotional development.

Mental Abilities

The cognitive functions and processes that encompass reasoning, problem-solving, memory, understanding, and similar capacities.