While in Pula Tioman , Aboy decided to go fishing for Black Marlin, a large fish popular among anglers. Aboy visited Song's Sports Shop to buy fishing equipment. Aboy explained his specific need to the salesperson. Aboy then bought the fishing gear the salesperson recommended. During the first trip out, Aboy had repeated strikes, but the line was too light for the weight of the fish. The line broke every time even though handled properly. Aboy is very upset as he had spent a lot for the fishing trip but came back with nothing. Identify ONE (1) implied term under Sale of Goods Act that Aboy can use if he wishes to sue Soong's Sports Shop for breach and discuss whether he would be successful in his claim. Please do fast ASAP fast
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- Barbara was a regular shopper at Egeeay Supermarket, which was part of a large nationwidesupermarket chain. She was there at least once a week and sometimes more often if the specials werereally good.When Barbara was there this week, she slipped on some grapes in the pet-food section in aisle 3,slipping and falling, and breaking her ankle. The store manager was not sure how the grapes got thereor how long they had been there, but store policy was to do checks every 15 minutes of the floor inthe fruit section. The store manager indicated that there were a number of spillages every week in thegreen grocery section of the store.The store owner wishes to know:a) Whether Egeeay Supermarket owes a duty of care to Barbara? b) If they do, has it breached that duty of care?c) Whether your answer would be different if Barbara had slipped on some grapes in the fruit sectionof the store.Dylan worked for a propane gas distributor as an accounting clerk in a small Midwestern town. Last winter, his brother Mike lost his job at the machine plant. By January, temperatures were sub-zero, and Mike had run out of money. Dylan saw that Mike’s account was overdue, and he knew Mike needed another delivery to heat his home. He decided to credit Mike’s account and debit the balance to the parts inventory because he knew the parts manager, the owner’s son, was incompetent and would never notice the extra entry. Months went by, and Dylan repeated the process until an auditor ran across the charges by chance. When the owner fired Dylan, he said, “If you had only come to me and told me about Mike’s situation, we could have worked something out.” Requirements What can a business like this do to prevent employee fraud of this kind? What effect would Dylan’s actions have on the balance sheet? The income statement? How much discretion does a business have with regard to accommodating…Dylan worked for a propane gas distributor as an accounting clerk in a small Midwestern town. Last winter, his brother Mike lost his job at the machine plant. By January, temperatures were sub-zero, and Mike had run out of money. Dylan saw that Mike’s account was overdue, and he knew Mike needed another delivery to heat his home. He decided to credit Mike’s account and debit the balance to the parts inventory because he knew the parts manager, the owner’s son, was incompetent and would never notice the extra entry. Months went by, and Dylan repeated the process until an auditor ran across the charges by chance. When the owner fired Dylan, he said, “If you had only come to me and told me about Mike’s situation, we could have worked something out.” Requirements What can a business like this do to prevent employee fraud of this kind? What effect would Dylan’s actions have on the balance sheet? The income statement?
- Linda Malloy is a CPA with a passion for animals and volunteers 15 hours a week at an animal shelter. While she was originally asked to provide pro bono auditing help, these days she only provides hands-on care for abandoned and rescued puppies. One Saturday the shelter's director tells Linda that the puppies seem very agitated, and adds, "It's almost like they know what dire financial straits we are in right now and they are worried about landing back on the streets again." Linda senses an opportunity, and calls a friend she thinks might be interested in purchasing the shelter. She tells her friend, "I bet you can get the place for well under market value, since the owner is really stressed and needs to sell quickly." Which of the following statements is true? Select one: As a CPA, Linda is not permitted to provide volunteer or pro bono services, so has made a per se violation of the AICPA Code of Professional Conduct. Regardless of the physical labor she is providing at the…Varney operated one of two 5-ton cranes in a factory. Both cranes were to act simultaneously in lifting a 9- ton machine. The other operator was busy elsewhere, so Varney, who was in a hurry, tried to lift the machine with his crane alone. The cable broke after the load was 10 feet above the floor, and a worker who happened to be walking under the crane but who had nothing to do with the operation was injured. Has the worker a valid cause of action against Varney?On July 15, Adler purchased in Chicago a Buick sedan, intending to drive it that day to St. Louis, Missouri. He telephoned a friend, Maruchek, who was in the insurance business, and told him that he wanted liability insurance on the automobile, limited in amount to $50,000 for injuries to one person and to $100,000 for any one accident. Maruchek took the order and told Adler over the telephone that he was covered and that his policy would be written by the Young Insurance Company. Later that same day and before Maruchek had informed the Young Insurance Company of Adler’s application, Adler negligently operated the automobile and seriously injured Brown, who brings suit against Adler. Is Adler covered by liability insurance?
- Olivia and Yixing are volunteering at a cat rescue shelter. The shelter supervisor asks them to clean out kennels and haul bags of cat food from the donation area into storage. It takes Olivia 6 minutes to clean out a kennel and 6 minutes to move a bag of food. It takes Yixing 10 minutes to clean out a kennel and 12 minutes to move a bag of food. For the following questions, round each answer to the nearest tenth. d. Yixing’s opportunity cost of cleaning a kennel: bags of food moved. e. Yixing’s opportunity cost of moving one bag of food: kennels cleaned. f. Yixing says it does not matter which task each of them performs, because Olivia is faster at both tasks. Is she correct? No, Yixing should clean out the kennels, and Olivia should move the food bags. No, Olivia should clean out the kennels, and Yixing should move the food bags. Yes, Olivia should do both tasks because she is faster at both. No, Yixing should do both tasks so that she…Charles wants to buy a pre-owned Harley-Davidson motorcycle and drops by several motorcycle dealerships before choosing to buy a good quality pre-owned, Softail model from Kenny’s Motorcycle Dealership. Kenny tells Charles that the motorcycle was manufactured in 2008 and had only done 12,000 kilometres. After using the motorcycle for four months, Charles had it serviced at an authorised Harley Davidson repair centre. He was told by the repairman that the motorcycle was in a good condition, considering that it was made in 2004. The repairman did admit that he was surprised that it had done only 12,000 kilometres; because it was clear that the motorcycle had travelled way more than that. Charles investigates further and finds out that the motorcycle was really made in 2004 and he paid about $4,000 more than what the motorcycle was really worth on the market. Charles wants to get a remedy against Pete’s Motorcycle Dealership. Explain to him his rights under contract law.Flotilla Beam, the owner of the Bay City Boatyard, recently had a brilliant idea. There is a shortage of boat slips in the harbor during the summer. Beam’s idea is to develop a system of “dry slips.” A dry slip is a large storage rack in a warehouse on which a boat is stored. When the boat owner requests, a forklift is used to remove the boat from the dry slip and place the boat in the water. The entire operation requires one hour when a launch reservation is made in advance. The boatyard already has a vacant warehouse, which could be used for this purpose. However, Beam’s idea will require the following capital investment by the boatyard. • Storage racks: cost, $200,000; useful life, 18 years; MACRS class, 10-year property. • Forklift: cost, $120,000; useful life, six years; MACRS class, 5-year property. Bay City Boatyard’s tax rate is 35 percent, and its after-tax hurdle rate is 14 percent. Instructions: For each of the boatyard’s proposed capital investments: 1. Prepare a…
- Bill has just returned from a duck hunting trip. He has brought home eight ducks. Bill’s friend, John, disapproves of duck hunting, and to discourage Bill from further hunting, John has presented him with the following cost estimate per duck: 1. Assuming that the duck hunting trip Bill has just completed is typical, what costs are relevant to a decision as to whether Bill should go duck hunting again this season?2. Suppose that Bill gets lucky on his next hunting trip and shoots 10 ducks in the amount of time it took him to shoot 8 ducks on his last trip. How much would it have cost him to shoot the last two ducks if costs are estimated per duck? Explain.3. Which costs are relevant in a decision of whether Bill should give up hunting? Explain.Last week Santiago found a new pair of red Nike Air Soles in the parking lot. He had just paid $120 to buy a pair of blue Nike Air Soles a few days earlier. A friend offers $80 to buy the pair of red Air Soles. Santiago says no and decides to keep both pairs for himself. The opportunity cost of this decision is how muchDuring the Covid-19 pandemic, Rose Bud lost her job at a property management company. As a result, she decided to pursue her life dream of having her own company. Rose also loves the outdoors and nature. Part of her dreams is to incorporate garden nursery and outdoor elements into her business. Rose’s brother Pino Noir is a winemaker at a big winery. He arranged that Rose could buy the used wine barrels at a good price. Rose turns these wine barrels into pot plant holders. They are a popular choice for instant planter boxes. They're low maintenance, long-lasting, and large enough for roots to flourish. Plus, their traditional rustic oak adds character to any garden space.Consistent with her dreams, Rose started incorporating her new company and named it Go Green. Two years after the start of Covid-19, all is going very well at Go Green and thinking back, starting her own business, is one of the best things that Rose has ever done.To continuously improve her business, Rose has asked you…