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1 year ago

What are the five essential elements of an enforceable contract according to roger 2012 essentials of business law?

1 answer:

3 0

A legitimate contract must have all necessary aspects such as an offer, its , meeting of minds, acceptance, communication, consideration, capacity, and legality.

Enforceable contracts can be enforced, especially when lawful or valid creditors have enforceable contract rights.

Valid contracts, invalid contracts, voidable contracts, unlawful contracts, and unenforceable contracts are the five types of contracts based on validity. A valid contract is one that is legally enforceable, whereas a void contract is one that is not legally enforceable and imposes no duties on the parties concerned.

Therefore, the answer is given below:

Meeting of minds
Acceptance
Communication
Consideration
Capacity, and legality.

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Two accounts are opened at the same time. You deposit 1250 dollars into the first account, which earns interest at an effective

dem82 [27]

Answer:

Assuming a final balance of $3,000 for the second account, it would take 26,4 years of the first account to be exactly twice the balance in the second account.

Explanation:

First, we need to determine a quantity for the second account. We use the compound interest formula:

A = P(1 + i/n)^n*t

where:

A = Final value

P = initial value

i = interest rate

n = number of times the interest rate is compounded in the period

t = number of periods elapsed

We will assume that we need to find the number of years it takes for the second account to give a balance of $3,000. Under this sceneario, our values will be:

A = $3,000

P = $210

i = 11.2% annually

n = 1 (the interest rate is an efective annual rate, therefore, it is compounded once in a year)

t = x (the number of periods is the incognita)

Next, we plug the amounts into the equation and solve:

210 (1 + 0.112)^X = 3,000

(1.1112)^X = 3,000 / 210

(1.112)^X = 14.3

Remember that we use logarithms to solve for an unknown exponent

X * Log 1.112 = Log 14.3

X = Log 14.3 / Log 1.112

X = 25.0 years

---------------------------------------------------------------------------------------------

Now, we need to find how long it takes the second account to give a balance that doubles 3,000. (6,000)

1,250 (1 + 0.061)^X = 6,000

(1.061)^X = 4.8

X*log 1.061 = log 4.8

X = log 4.8 / log 1.061

X = 26.49 years

7 0

3 years ago

A building offers 60,000 square feet of rentable space and it currently occupied by two tenants, A and B. If tenant A occupies 3

timurjin [86]

Answer: a. 80% b. $30960

Explanation:

a. What is the buildingís current occupancy rate?

Occupancy rate can be calculated as:

= (Area of the space occupied / total area of the space) × 100

We.need to calculate the area of the space occupied which will be:

= 35,000+13,000

= 48,000 Sq.Ft

Therefore, Occupancy Rate:

= (48,000 / 60,000) × 100

= 80%

b. If the annual expense for utilities is $2.15/sf and utilities are 30% fixed, what is the utility expense based on the occupancy rate?

Total area of utilities will be:

= 30% × 48,000

= 0.3 × 48,000

= 14,400 Sq.Ft

Annual utility expense per Sq.Ft = $2.15

Therefore, total annual expense of utility will be:

= 2.15 × 14,400

= $30,960

3 0

2 years ago

The concept or term the refers to the notion that all variables except those under immediate consideration are held constant for

masha68 [24]

The other-things-equal assumption, ceteris paribus refers to the notion that all variables except those under immediate consideration are held constant for a particular analysis.

Explanation:

"Holding other things constant" refers to the term Ceteris paribus. It mainly considers the one statement "all thing being equal" . In economic field, it takes only one variable into account and determines the effect of that one variable in economics holding all the other variables as a constant.

Whenever an argument occurs related to cause and effect then this concept comes into play. For instance this concept says that increasing the wage of an employee can reduce marginal cost, increase money supply, improves profits of the company he is working,etc. Thus, it considers the effect of only the wage of an employee.

8 0

3 years ago

Consider the demand for hamburgers. If the price of a substitute good (for example, hot dogs) increases and the price of a compl

ycow [4]

Answer:

If the price of a substitute good increases;

Considering the demand for hamburgers, if the price of hot dogs for instance increases holding all other things constant ( ceteris paribus), the demand for hamburgers will increase. This is because hamburgers would be relatively cheaper compared to that of hot dogs.

If the price of a complimentary good increases;

Considering the demand for hamburgers, if the price of hamburger buns for instance increases holding all other things constant ( ceteris paribus), the demand for hamburgers will decrease. Demand for hamburgers will decrease because an increase in goods that have to be bought together will make the costs relatively higher, causing a decrease in demand.

Explanation:

For goods that are complements, if you purchase more (less) of one, you purchase more (less) of the other.

For goods that are substitutes, if you purchase more (less) of one, you purchase less (more) of the other.

7 0

3 years ago

Corporation is a rapidly growing biotech company that has a required rate of return of 14%. It plans to build a new facility in

Bad White [126]

Answer:

NPV = $4,037,680.83

NPV = $4,433,156.36

NPV = $4,255,692.85

The first payment plan would be chosen because it has the lowest NPV. If chosen, the lowest amount would be paid.

Expected inflation: if inflation is expected to rise higher than expected in subsequent years , payment plans that differ payment to later year might be more suitable . Inflation causes the value of money to fall so if payment is made in later years , less money would be paid.

Conversely, if inflation is expected to fall, payment plan that makes payments in earlier years would be more suitable.

Also, the effect of payment on other projects should be considered. For example, if the company has other projects they want to undertake now but do not have enough capital required to start, the company might want to choose a payment plan that differs payment especially if the other project doesn't have a flexible payment plan.

Explanation:

Net present value is the present value of after tax cash flows from an investment less the amount invested.

NPV can be calculated using a financial calculator

Plan 1

Cash flow in year 0 = $ 325,000

Cash flow in year 1 = 0

Cash flow in year 2 = $ 4,825,000

I = 14%

NPV = $4,037,680.83

Plan 2

Cash flow each year from year 0 to 2 = $1,675,000

I = 14%

NPV = $4,433,156.36

Plan 3 :

Cash flow in year 0 = $ 425,000

Cash flow each year from 1 to 3 = $ 1,650,000

I = 14%

NPV = $4,255,692.85

To find the NPV using a financial calacutor:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. After inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.

3. Press compute

I hope my answer helps you

5 0

3 years ago