Crosby signs a contract with Subban and agrees to meet at Subban's business at the conclusion of each work day, before the first payment is due, and then files a lawsuit against Subban, claiming that the license is unenforceable because the license's objective is to protect the public.
<h3>What is contract?</h3>
A contract is the legal agreement between the two parties. It contains all the essentials of section 10. On the breach of such contract, the party who break the contract will be punishable under the act.
Crosby and Subban have a contract in which Crosby agrees to sweep Subban's retail store at the end of each work day. Subban discovers Crosby is unlicensed before the first payment is due.
All retail floor sweepers in Florida are required to be certified and pay annual dues.
As a result, Subban does not compensate Crosby for his efforts. When Crosby s pursues a breach of contract complaint against Subban to court, the judge will conclude the contract is invalid since the purpose of the license is to protect the public.
Therefore, the contract is unenforceable.
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Answer: $200,100
Explanation:
Given that,
Units sold = 15,000
Sales Revenue = $510,000
Purchases (excluding Freight In) = $310,500
Selling and Administrative Expenses = $36,000
Freight In = $15,900
Beginning Merchandise Inventory = $42,500
Ending Merchandise Inventory = $59,000
Cost of goods sold = Beginning Merchandise Inventory + Purchases + Freight In - Ending Merchandise Inventory
= $42,500 + $310,500 + $15,900 - $59,000
= $309,900
Gross Profit = Sales Revenue - Cost of goods sold
= $510,000 - $309,900
= $200,100
The statement "The value of an item where the borrowers owned but they are not at the repossession risk" is to be true.
The unsecured loan is the type of loan in which there is no need for any type of collateral property.
The lender does not takes the assets of the borrower as the security but it gives the approval of an unsecured loan depends upon the creditworthiness of the borrower.
Examples are:
- Personal loans.
- Students loans.
- Credit cards.
The following information related to unsecured loans is
- It does not for cars, houses, or any other large purchases
- In this, the collateral does not involve.
- It contains high interest.
Therefore we can conclude that, option d is correct.
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Answer:
B. Annuity due
Explanation:
Annuity Due
This is the repetition of money paid that is made at the beginning of each defined period. Period could be monthly, quarterly, yearly and so on. A common example used in explaining this is Rent paid at the beginning of each month. Annuity due have all payments in the same amount, like in this case, Janis is going to be paid $500 a month for 48 months. Meaning the amount tonbe paid doesnt changes. Also another characteristic of annuity payments is that all payments are paid at thesame time interval. Again, here, Janis is being paid every month at the same time interval NOT, today monthly and the next payment weekly.
It is a series of payments that is made or received over a predetermined period of time.
