Answer:
b. quasi contract
Explanation:
-Liquidated damages refers to a mechanism in a contract in which a party can request a compensation because of breach.
-Quasi contract is an agreement that is recognised by a court when there is no written contract between two parties and there is a conflict about a payment of a product or service.
-Reformation is a change made by a court in a document when one party that participates in it makes a request.
-Restitution is when someone receives a compensation for a loss or an injury.
According to the options given and the definitions, the answer is quasi contract.
Answer:
No, Jim is not correct.
Explanation:
Betty will win this case.
Generally, the law encourages marriage as its policy. If there is any contract that prevent or restrict marriage in whatever way, such contract would be considered null and void because it is against the public policy.
Despite the above, contracts will be generally considered valid when they place reasonable restrictions on marriage. In this question, the restriction placed on Betty that she should get married until after her 22nd birthday is reasonable and has to be considered to be valid. Based on this, Betty has to be paid the $25,000 as laid down in the binding contract between the two parties.
Therefore, Jim is not correct.
Answer: 187%
Explanation:
The percentage increase in the price of dozen egg would be:
= ( 2.75-0.96) × 100/ 0.96
= 1.79 × 100 / 0.96
= 186.45%
The percent increase in the price of dozen egg = 187%
Answer:
Gift Tax GSTT
Explanation:
In such a scenario, Grandma and Grandpa Generoushave a current liability to the Gift Tax GSTT. This tax rate applies to Grandma and Grandpa Generous because the gift exceeds the limit per individual for gifting and because they have exhausted their lifetime gift-tax exemption. Meaning that they have to pay taxes on this gift of $5.43 million which according to the GSTT guidelines is a fixed rate of 40% of the gift that was given.
