Jeffrey bought a three-bedroom house in Plattekloof. However, the roof needs some repairs before him, and...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Jeffrey bought a three-bedroom house in Plattekloof. However, the roof needs some repairs before him, and his family can move in. Jeffrey contacts Rory Contractors (Pty) Ltd who is willing to do the repairs on the roof for R20 000. Jeffrey has already paid R10 000 to Rory Contractors as they have completed half of the repairs. The other half of the money, the remaining R10 000, will only be paid to Rory Contractors once they have completed all the repairs. However, Rory Contractors is already demanding the other half of the payment, even though they have not completed the rest of the repairs yet. Jeffrey would like to prevent Rory Contractors from claiming the rest of the payment until they have completed the repairs. Required: Identify and discuss the most appropriate remedy that Jeffrey can use to secure perform from Rory Contractors (Pty) Ltd in terms of the agreement. Jeffrey bought a three-bedroom house in Plattekloof. However, the roof needs some repairs before him, and his family can move in. Jeffrey contacts Rory Contractors (Pty) Ltd who is willing to do the repairs on the roof for R20 000. Jeffrey has already paid R10 000 to Rory Contractors as they have completed half of the repairs. The other half of the money, the remaining R10 000, will only be paid to Rory Contractors once they have completed all the repairs. However, Rory Contractors is already demanding the other half of the payment, even though they have not completed the rest of the repairs yet. Jeffrey would like to prevent Rory Contractors from claiming the rest of the payment until they have completed the repairs. Required: Identify and discuss the most appropriate remedy that Jeffrey can use to secure perform from Rory Contractors (Pty) Ltd in terms of the agreement.
Expert Answer:
Related Book For
Auditing A Practical Approach with Data Analytics
ISBN: 978-1119401742
1st edition
Authors: Raymond N. Johnson, Laura Davis Wiley, Robyn Moroney, Fiona Campbell, Jane Hamilton
Posted Date:
Students also viewed these accounting questions
-
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
You are attempting to arrive at what the monthly rate of change that has recently occurred in the real estate market. In doing some market research, you find two properties that have sold twice...
-
(a) How many seconds are there in 1.00 year? (b) How many nanoseconds are there in 1.00 year? (c) How many years are there in 1.00 second?
-
The 16-in. bar AB is made to rotate at the rate ?2 = d? /dt with respect to the frame CD which itself rotates at the rate ?1 about the Y axis. At the instant shown ?1 = 12 rad/s, d?1/dt= ?16 rad/s2,...
-
From the following accounts of Resch Restore, Inc., prepare the businesss statement of retained earnings for the year ended January 31, 2010: Retained Earnings Dividends Clo Clo 110,000 Feb 1 82,000...
-
Professor Patricia (Patty) Pa^te is retired from the Palm Springs Culinary Arts Academy (PSCAA). She is a single taxpayer and is 68 years old. Patty lives at 98 Colander Street, Henderson, NV 89052....
-
All costs incidental to materials procurement and handling until they are issued are charged to the materials account by Lingad Mfg. Co. at a rate predetermined for each of the departments involved....
-
Adrienne is a single mother with a 6-year-old daughter who lived with her during the entire year. Adrienne paid $3,900 in child care expenses so that she would be able to work. Of this amount, $500...
-
Alphonse Bona carries on a business as a sole proprietor in which a single product is sold to retail customers. During his first year of business, purchases of inventory are as follows: Date...
-
Motts Incorporated has a standard cost system in which the standard direct labor for a particular product is 0.5 hours at the standard rate of $21.0 per hour. The company has reported the following...
-
During 2021, Bramble Corp. earned net income of $490000 which included depreciation expense of $78000. In addition, the company experienced the following changes in the account balances listed below:...
-
Determine the height (h) of the water column and the velocity at C, if the pressure of the water in the 6 inch diameter pipe at A is 10 psi and water flows past this point at 6 ft/s. Assume no...
-
What role does cultural capital play in the perpetuation of social hierarchies and the reproduction of inequality ?
-
What role does leadership style play in shaping the organizational climate, and how can transformational leadership foster a more positive work environment ?
-
2. The following figure shows a triangulation station O from which the horizontal directions di, d2, and d3 were measured to three stations A, B, and C, respectively, with the following observations:...
-
Is that Yelp review real or fake? The article A Framework for Fake Review Detection in Online Consumer Electronics Retailers (Information Processing and Management 2019: 12341244) tested five...
-
The nature of an audit procedure refers to: a. When the procedure is performed. b. The assessed level of detection risk. c. The sample size required to perform the procedure. d. Its purpose and its...
-
A cutoff test designed to detect credit sales made before the end of the fiscal year that have been recorded in the subsequent year provides assurance about which of the following management...
-
Conversations between the board of directors of Acme Inc. and the engagement partner of the audit, Angelo Del Santo, have revealed that Acme uses three law firms. Ball & Partners performs all legal...
-
Why are accounting standards important to auditors?
-
What is the relevance of FREDs for auditors?
-
What is aSORP?
Study smarter with the SolutionInn App