Correct question:
The ultimate purpose of a contract is the creation of an agreement that courts will order parties to perform or to pay consequences for the failure of performance. When courts uphold the validity of such promises, the resulting agreement is a(n) ______.
A. absolute contract
B. differentiated contract
C. void contract
D. relative contract
E. enforceable contract
Answer:
When courts uphold the validity of such promises, the resulting agreement is an (E) enforceable contract.
<h3>
What is an enforceable contract?</h3>
- An enforceable contract is one that may be enforced in a court of law, whether written or oral.
- If the law allows for contract enforcement, the assenting parties are obligated to carry out an agreement.
- Terms cannot be violated or breached without rendering the contract null and void.
- An enforceable contract is formed when two or more people enter into an agreement or contractual obligation that allows one of the parties to legally compel the other to do anything.
- The ultimate goal of a contract is to create an agreement that courts will require parties to perform or pay penalties for failing to perform.
- A contract must contain both an offer from one party and an acceptance from the other party in order to be enforceable.
<h3>Reason -</h3>
As the definition above states that the ultimate goal of a contract is to create an agreement that courts will require parties to perform or pay penalties for failing to perform.
Therefore, when courts uphold the validity of such promises, the resulting agreement is an (E) enforceable contract.
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Answer: Option D
Explanation: Expenses incurred by business in day to day to operations are called costs. These costs can be divided as follows:-
FIXED COST : These are the cost which are independent of the level of output.
VARIABLE COST : These are the cost which varies as per the level of output.
Increase in the level of production will increase the electricity consumption, also consumption of direct materials is directly related to number of units produced. Wages of workers are usually dependent on the output they produce. Hence, only insurance premium is a fixed cost as the company has to pay it irrespective of the level of output.
Answer:
4.98%
Explanation:
Calculation for the current yield
First step
Since the the bond was purchased at 95 +15/32nds this means that we have to find the bond percentage.
Calculated as
Bond Percentage = 95 + 15/32nds
Bond percentage =95.46875%
Second step is to multiply the bond percentage by $1,000
95.46875% *$1,000
= $954.6875
The last step is to find the current yield
Current yield=$47.50 /$954.6875
Current yield = 4.98%
Therefore the current yield will be 4.98%
The answer is exclusive dealing.
In terms of economics and law, exclusive dealing happens when a supplier binds the customer by restricting their ability to choose what, with whom, and where they do business.
When this significantly lessens competition in an industry, it is illegal in the majority of nations, including the USA, Australia, and Europe.
Exclusive dealing is permissible (in the US) according to the Restrictive Trade Practices Act when the sales outlets are owned by the supplier; but, if it is registered and approved, it is permitted when the outlets are independent.
Hence, an agreement between a manufacturer and a distributor stipulating that a dealer will only distribute that manufacturer's products would be classified as a form of exclusive dealing.
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Answer:
2.18%
Explanation:
Effective interest rate = (1+i/m)^n - 1
i is stated as interest rate
m is the compounding frequency
Here, the compounding is quarterly and the effective interest rate is 8%
Since one year is equal to 4 quarter, the value of m is equals to 4
Effective interest rate = (1 + i/4)^4 - 1
9% = (1 + i/4)^4 - 1
0.09 + 1 = (1 + i/4)^4
(1.09)^1/4 = 1 + i/4
1 + i/4 = 1.02178
i/4 = 1.02178 - 1
i/4 = 0.2178
i/4 = 2.18%