Sandra was intent on receiving her master's degree from the University of Toronto and obtained an...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Sandra was intent on receiving her master's degree from the University of Toronto and obtained an Ontario government student loan in the amount of $30,000 which was to be used to pay her tuition fees as defined in the loan contract. She was advanced $15,000 at the start of the school year and was to receive the balance half-way through the term. At the beginning of the term, for "personal reasons" she stopped attending classes and used the money for living expenses rather than paying the tuition. The U of T informed the government that they were not paid, and the government refused to advance the second payment. Sandra sued the government for breach of contract and sought damages in the amount of $1.5 million (she added mental stress and all sorts of health ailments because the money was not advanced). Do you think Sandra's action should be successful? Why or why not? Sandra was intent on receiving her master's degree from the University of Toronto and obtained an Ontario government student loan in the amount of $30,000 which was to be used to pay her tuition fees as defined in the loan contract. She was advanced $15,000 at the start of the school year and was to receive the balance half-way through the term. At the beginning of the term, for "personal reasons" she stopped attending classes and used the money for living expenses rather than paying the tuition. The U of T informed the government that they were not paid, and the government refused to advance the second payment. Sandra sued the government for breach of contract and sought damages in the amount of $1.5 million (she added mental stress and all sorts of health ailments because the money was not advanced). Do you think Sandra's action should be successful? Why or why not?
Expert Answer:
Answer rating: 100% (QA)
In my opinion her actions will not succeed and there w... View the full answer
Related Book For
Horngrens Accounting
ISBN: 9780135359785
11th Canadian Edition Volume 2
Authors: Tracie Miller-Nobles, Brenda Mattison, Ella Mae Matsumura, Carol A. Meissner, Jo-Ann Johnston, Peter R. Norwood
Posted Date:
Students also viewed these general management questions
-
You qualified for a student loan in the amount of $10,000. Once you graduate, you are required to repay this loan over 10 years at a rate of interest of 4 percent. The monthly interest and principal...
-
You qualified for a student loan in the amount of $10,000. Once you graduate, you are required to repay this loan over 10 years at a rate of interest of 4 percent. The monthly interest and principal...
-
You qualified for a student loan in the amount of $10,000. Once you graduate, you are required to repay this loan over 10 years at a rate of interest of 4 percent. The monthly interest and principal...
-
Consider the following income statement: Fill in the missing numbers and then calculate the OCF. What is the depreciation tax shield? Sales $643,800 Costs 345,300 Depreciation 96,000 EBIT Taxes (35%)...
-
During 2010, Dwyer Corporation earned net income of $5.8 billion and paid off $2.4 billion of long-term notes payable. Dwyer raised $1.1 billion by issuing common stock, paid $3.5 billion to purchase...
-
For each of the following situations, find the critical value(s) for z or t. a) H0: p = 0.5 vs. HA: p 0.5 at = 0.05. b) H0: p = 0.4 vs. HA: p > 0.4 at = 0.05. c) H0: = 10 vs. HA: 10 at = 0.05;...
-
The financial statements for Joseph Corporation contained the following information. Accounts receivable $ 5,000 Sales revenue 75,000 Cash 15,000 Salaries and wages expense 20,000 Rent expense 10,000...
-
Temco, Inc., conveyed to the Wynns certain property adjoining an apartment complex being developed by Sonnett Realty Company. Although nothing to this effect was contained in the deed, the sales...
-
(1 point) By recognizing each series below as a Taylor series evaluated at a particular value of x, find the sum of each convergent series. A. 1+7+ 72 + 74 2! 3 ! 4! + ... + n! B. 1 - 72 +... +...
-
Sherina Smith (Social Security number 785-23-9873) lives at 536 West Lapham Street, Milwaukee, WI 53204, and is self-employed for 2019. She estimates her required annual estimated tax payment for...
-
QUESTIONS ANSWER IN 150 -170 WORDS EACH1. What international marketing strategies have been key to Kors' success?2. Describe the role of branding in the global luxury products market.3. What can Kors...
-
What role does financial accounting play in the allocation of society's financial resources?
-
What ideas introduced thus far in the book and in this chapter in particular might aid organizational learning?
-
What is the purpose of an income statement? The statement of stockholders' equity? The balance sheet? The statement of cash flows?
-
Park and Fly Parking, near an airport, incurred the following costs to acquire land, make land improvements, and construct and furnish a small building: Park and Fly Airport Parking depreciates land...
-
Knowledge management systems are like old wine in new bottles. Discuss.
-
Calculate the debt-to-total-assets ratio for Company UU, which has total liabilities of $800,000 and total assets of $2,000,000. Compute the company's debt-to-total-assets ratio and interpret its...
-
Selected condensed data taken from a recent statement of financial position of Morino Ltd. are as follows. MORINO LTD. Statement of Financial Position (partial) Other current assets...
-
The Retained Earnings account has the following transactions for the fiscal year shown in a T-account format: 1. What does X represent? 2. How much is X? 3. What does the amount of $20,000 represent?...
-
Prepare a simple statement of comprehensive income for Yoshi Corporation using the following information: For the year ended June 30, 2020 Loss for the year is $25,000 Gain on equity investments...
-
Nelson Inc. recorded salaries expense of $54,000 during a year when the balance of Salaries Payable decreased from $8,000 to $2,000. How much cash did Nelson Inc. pay to employees during the year?...
-
Service Revenue} Melrose Milk Delivery provides weekly gourmet milk delivery to the residents of Nicetown. Melrose charges each customer \(\$ 45\) per week for its milk delivery, and it received...
-
Ratio Analysis} Bari Sports' net sales, average net trade accounts receivable, and net income were \(\$ 7,300,000\), CORNERSTONE 5.5 \(\$ 842,000\), and \(\$ 390,000\), respectively....
-
Service Revenue} \(\mathrm{H} \& \mathrm{R}\) Wholesalers is a retailer providing low-cost, bulk items to small companies. Companies must pay an annual membership fee of \(\$ 100\) to access H\&R's...
Study smarter with the SolutionInn App