Answer: This is not an enforceable contract, because they is no agreement of what will happen if any of the party failed to fullfil it's obligation in the contract agreement.
Explanation: An enforceable contract is a legal agreement between two or more parties, which is backed by the law.
The agreement between Kendall Gardner and B&C shavings is not an enforceable contract because it would be defrauding for Kendall Gerdner to loss $25,860 paid to B&C shavings, just because they can't complete it's payment. It will also be unfair to B&C shavings since their have spend it's money to build the shaving mill.
Their contract agreement lacks what should be done if any party failed to fullfil its own part in the agreement.
B&C shavings doesn't have the right to withhold Kendall Gardner down payment, as it's not agreed in their contract.
An organization is a consciously coordinated social unit composed of multiple people, that function with continuity toward a goal.
An organization is a group of human beings running collectively, consisting of community affiliation, charity, union, or business. The phrase company can be used to consult a group or corporation or the act of forming or organizing some thing.
An enterprise is a reputable organization of human beings such as a political birthday celebration, agency, charity or association. maximum of these vocational colleges are furnished by using volunteer companies. ... mentioned by the global labor enterprise. Synonyms: Synonyms for organizations, corporations, institutions, institutions, and agencies.
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Solution:
S.NO. Accounts title and Explanations Debit Credit
1 Cash $25,000
Accumulated Depreciation- Machine A $63,960
Gain on Dispose: $10,400
Machine A $78,560
Accumulated Depreciation - Machine B $16,500
Loss on Disposal $10,700
Machine B $27,200
Note: -When the net value of the commodity disposed of is smaller than the amount paid, there is a benefit. If the worth of the book is MOT, there is a cost.
Answer:
D) win, because locke had apparent authority to bind the partnership.
Explanation:
Apparent authority refers to an an agent (in this case Locke) that has the power to act on behalf of a principal (the partnership), even though that power has not been expressly granted. The principal's conduct must imply that it has granted that power to the agent in order for a third party to reasonably believe it.
In this case Locke is a partner, so he is part owner of the partnership, that is why Gage reasonably believed that he had the power to place the order. Usually if the agent (Locke) had apparent authority, the principal (the partnership) will be liable for his actions.
Answer:
This implies that bus is an inferior good and car is a normal good.
Explanation:
Initially, Jim's income was $5000 a year.
As his income increases to $60,000 a year, he decides to buy a car instead of using the bus.
In other words, with the increase in income, the demand for traveling by bus is declining.
This implies that it is an inferior good.
The demand for the car is increasing with an increase in income.
So, the car is a normal good.
An inferior good can be defined as a product that shows negative elasticity. This means with an increase in income its demand declines an vice versa.
A normal good can be defined as a product that shows positive income elasticity. That is, its demand increases with rise in income and vice versa.
