A security contract entered into for a period of 3 years was revoked because of...
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A security contract entered into for a period of years was revoked because of an impled flaw in the contract. The court ruled that the total contract price had to be paid The contract price received by the recipient should be treated as A I Capital because it was received in a lump sum I I Assessable income because it was an amount received to replace loss of earnings C I A windtall gain becauso the company was not expecting the payment D I An exempt income because no services were provided 
A security contract entered into for a period of years was revoked because of an impled flaw in the contract. The court ruled that the total contract price had to be paid
The contract price received by the recipient should be treated as
A I Capital because it was received in a lump sum
I I Assessable income because it was an amount received to replace loss of earnings
C I A windtall gain becauso the company was not expecting the payment
D I An exempt income because no services were provided
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