Ralph Is a Professional Football Player

question 15

Multiple Choice

Ralph is a professional football player.He signs a valid contract with the Jets.Later,the Giants offer him more money,so he signs a contract with them.If the Jets sue Ralph,what would the most likely result be?

• A)The court will order Ralph to play with the Jets.
• B)The court will order Ralph to play with the Jets,but Ralph is entitled to be paid the amount he negotiated under the Giants contract.
• C)The court will issue a preliminary injunction barring Ralph from playing with any team other than the Jets during the course of the lawsuit.
• D)The court will order Ralph to pay compensatory damages in the amount of the difference between the two contracts.

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Definitions:

Business Entity Assumption

An accounting principle that treats a business as a separate legal entity from its owners, requiring separate accounting records.

Personal Financial Information

Data related to an individual's finances, including income, debt, investments, and credit history.

Sole Stockholder

An individual or entity that is the only owner of all the shares of a company.

External Users

Individuals or entities outside of a company who are interested in its financial information, including investors, creditors, and regulatory agencies.