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Svet_ta [14]
2 years ago
12

An oral contract may be enforceable if the person making the promise could foresee that the promisee would rely on the promise.

Business
1 answer:
Lapatulllka [165]2 years ago
7 0

This statement is true.

An oral contract is a type of business contract that is outlined and agreed upon through oral communication, but not written down. Although it can be difficult to prove the terms of an oral contract in the event of a breach, this type of contract is legally binding.

An oral contract is an agreement entered into by two or more parties orally or on verbal terms only. For example, if a contractor comes to your house and says it will cost him $10,000 to remodel a bathroom, and you both agree on the terms of the remodel, you have a deal.

Oral contracts are generally enforceable as long as the basic elements of the contract are in place. That is offers, acceptances, exchanges of consideration, and disagreements regarding the specific terms of a contract. You do not have to agree to non-mandatory terms and conditions to make an oral contract enforceable

Learn more about the oral contracts here brainly.com/question/9380641

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Frasquita acquired equipment from the manufacturer on 6/30/2021 and gave a noninterest-bearing note in exchange. Frasquita is ob
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Answer:

$525,000

Explanation:

Calculation to determine what amount would it have recorded the equipment for on 6/30/2021

First step is to calculate the total interest for 10 months;

Based on the information given since the amount of $15,000 was the interest for 6 months in the year 2021 in which the note lasted for 10 months the total interest will be:

Total Interest = 10months/6months x $15,000 Total Interest=$25,000

Now let calculate 6/30/2021 Equipment

6/30/2021 Equipment=$550,000-$25,000

6/30/2021 Equipment=$525,000

Therefore what amount would it have recorded the equipment for on 6/30/2021 is $525,000

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3 years ago
What is the present value of $1,400 a year at a discount rate of 8 percent if the first payment is received 7 years from now and
ioda

Answer:

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<span>I think this would complete the sentence.</span><span>
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Answer:

The correct answer is

Explanation:

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