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Serhud [2]
1 year ago
14

sean, 17, a snowboarder, signs a long-term endorsement agreement for sportswear. he endorses the products and deposits his compe

nsation for the endorsements for several years. at age 19, he decides he wants to void the agreement to take a better endorsement deal. he claims he lacked capacity when he signed the deal at 17. can he get out of the contract?
Business
1 answer:
Degger [83]1 year ago
8 0

A settlement made with the aid of using a minor is frequently voidable, however a minor can most effective keep away from a settlement all through his or her minority popularity and for an inexpensive time after he reaches the age of majority.  After an inexpensive length of time, the settlement is deemed to be ratified and cannot be avoided.

  • Facts of the case: Sean, 17, a snowboarder, signs a long-term endorsement agreement for sportswear. At age 19, he wants to void the agreement by claiming that he lacked capacity when he signed the deal at 17.
  • Rule of Law: Minor's Contracts are voidable at the option of Minor.
  • Analysis: Since, Minor's Contract is voidable at the option of the Minor who Signs the Contact can either honor the contract or void the contract. A minor can void a contract for lack of capacity, only when he is still under the age of majority. If a minor turn 18 i.e., After attaining Majority and hasn't done anything to void the contract, then the contract can no longer be voided.
  • Here, Sean has not done anything to void the contract on attaining the age of 18. So, he at the age of 19, cannot void the agreement by claiming that he lacked capacity when he signed the agreement at 17.
  • Decision: Sean Vs. Sportswear Company: In the light of the above provisions, a Court will not permit Sean to now void the agreement.

Learn more about minority popularity here:

brainly.com/question/14457086

#SPJ4

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The following labor standards have been established for a particular product: Standard labor hours per unit of output 4.5 hours
zaharov [31]

Answer:

4400 Unfavorable

Explanation:

Calculation to determine the labor rate variance for the month

First step is to calculate the Standard hours using this formula

Standard hours = Standard labor-hours per unit of output*Actual output

Let plug in the formula

Standard hours= 4.5*1,300 units

Standard hours= 5850

Now let calculate the Direct labor efficiency variance using this formula

Direct labor efficiency variance = (Standard hours - Actual hours)*Standard rate

Let plug in the formula

Direct labor efficiency variance= (5,850-6,100)*17.60

Direct labor efficiency variance= 4400 Unfavorable

Therefore the labor rate variance for the month is 4400 Unfavorable

8 0
3 years ago
How soon upon a customer's arrival into your store should you, the sales associate, greet the customer?
Liula [17]
30 sec at McDonald’s
7 0
3 years ago
Instruments had retained earnings of $ 390 comma 000 at December​ 31, 2017. Net income for 2018 totaled $ 220 comma 000​, and di
VashaNatasha [74]

Answer:

The retained earnings should Quartz report at December​ 31, 2018 is $570,000

Explanation:

In this question, we apply the retained earnings equation which is shown below:

Ending retained earnings balance = Beginning retained earning balance + net income - dividend paid

= $390,000 + $220,000 - $40,000

= $570,000

The net income should be added while dividend should be deducted for finding out the ending retained earnings balance

3 0
3 years ago
If the MPC is 0.80 and disposable income increases from 32,000 billion to $37,000 billion, then consumption will increase by: A.
horsena [70]

If the MPC is 0.80 and disposable income increases from 32,000 billion to $37,000 billion, then consumption will increase by: B. $29,600 billion.

<h3>Increase in consumption</h3>

Using this formula=Increase in disposable income×MPC

Where:

Increase in disposable income=$37,000

MPC=0.80

Let plug in the formula

Increase in disposable income=$37,000 billion×0.80

Increase in disposable income=$37,000 billion×0.80

Increase in disposable income=$29,600 billion

Therefore consumption will increase by:  B. $29,600 billion.

Learn more about increase in consumption here:brainly.com/question/6955443

<h3 />
8 0
2 years ago
Countess Corp. is expected to pay an annual dividend of $5.29 on its common stock in one year. The current stock price is $79.83
Nostrana [21]

Answer:

10.03%

Explanation:

Using the dividend discount formula, find the cost of equity; r

r = \frac{D1}{P0} +g

whereby,

D1 = Next year's dividend = 5.29

P0 = Current price of the stock = 79.83

g = growth rate of dividends = 3.40% or 0.034 as a decimal

Next, plug in the numbers to the formula above;

r = \frac{5.29}{79.83} +0.034\\ \\ r =0.06627 + 0.034\\ \\ =0.10027

As a percentage, r = 10.03%

Therefore, the company's cost of equity is 10.03%

7 0
3 years ago
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