Stan orally agreed to sell his house to Humphrey and Humphrey made a down payment. Humphrey wanted it ready for his family quickly, so he had a new roof put on, new carpeting installed, and renovated the kitchen. Stan now thinks the place looks great and has decided not to sell. A business law student told him he could refuse to sell because the agreement was oral. Can he? Explain.

Chuck, a single taxpayer, earns $80,750 in taxable income and $30,750 in interest from an investment in city of heflin bonds. (use the u.s. tax rate schedule.) (do not round intermediate calculations. round your answers to 2 decimal places.)

If the economy were in the contracting phase of the business cycle, how might that affect your ability to find work?

Tri fecta, a partnership, had revenues of $369,000 in its first year of operations. the partnership has not collected on $45,000 of its sales and still owes $39,500 on $155,000 of merchandise it purchased. there was no inventory on hand at the end of the year. the partnership paid $27,000 in salaries. the partners invested $48,000 in the business and $23,000 was borrowed on a five-year note. the partnership paid $2,070 in interest that was the amount owed for the year and paid $9,500 for a two-year insurance policy on the first day of business. compute net income for the first year for tri fecta.