Alex, a senior professional golfer living in Florida, en¬tered into a sponsorship agreement with Golf Pro Associates, a Michigan partnership ("GPA"). The agreement provided that (1) GPA would sponsor Sutton on the PGA Tour, (2) GPA would pay all of Alex’s expenses, (3) GPA and Alex would equally divide his prize money after GPA is re¬imbursed for expenses, and (4) GPA would provide Alex health insurance.
Preliminary negotiations were on the telephone. GPA prepared a written agreement at its office in Michigan and sent it to Alex in Florida, who signed and returned it to GPA. GPA then signed the agreement and sent a copy to Alex. He participated in several senior PGA events, including two in Florida. While playing in Palm Springs, Alex suffered a heart attack and incurred medical costs of $100,000. GPA had not obtained health insurance coverage as agreed, so Alex sued GPA in a Florida state court for breach of contract. GPA moved to dismiss the action for lack of personal jurisdiction.
A. Can the Florida court, under its long arm statute, exercise personal juris­diction over the Michigan defendant in this case? Discuss.

The vaska company buys a patent on january 1, year one, and agrees to pay $100,000 per year for the next five years. the first payment is made immediately, and the payments are made on each january 1 thereafter. if a reasonable annual interest rate is 8 percent, what is the recorded value of the patent? 1. $378,4252. $431,2133. $468,9504. $500,000

When an interest-bearing note comes due and is uncollectible, the journal entry includes debitingaccounts receivable and crediting notes receivable and interest revenue.accounts receivable and crediting interest revenue.notes receivable and crediting accounts receivable and interest revenue.notes receivable and crediting accounts receivable.

Uppose that the federal reserve purchases a bond for $100,000 from donald truck, who deposits the proceeds in the manufacturer’s national bank. what will be the impact of this purchase on the supply of money? the money supply will increase by $100,000. the money supply will increase by $80,000. the money supply will increase by $500,000. this action will have no effect on the money supply. if the reserve requirement ratio is 20 percent, what is the maximum amount of additional loans that the manufacturer’s bank will be able to extend as the result of truck’s deposit? the maximum additional loans is $100,000. the maximum additional loans is $80,000. the maximum additional loans is $20,000. the maximum additional loans is $500,000. given the 20 percent reserve requirement, what is the maximum increase in the quantity of checkable deposits that could result throughout the entire banking system because of the fed’s action? this action will have no effect on the money supply. the money supply will eventually increase by $80,000. the money supply will eventually increase by $500,000. the money supply will eventually increase by $100,000.