The answer is a valid contract. A valid contract occurs when
both parties has expressed or had shown agreement when engaging to certain
services or products as means of showing that they both have negotiate and came
to an understanding of agreement with what they are pertaining to in which is
shown above as the adults involved has an agreement of paying the bicycle that
shows a valid contract.
Answer:
The statement would be:
Date: October 31, 2019
Net Income $680,700
Cash dividends $50,000
Stock dividends $127,000
Retained earnings $503,700
The retained earnings are equal to the sum of declared dividends substracted from the net income.
Answer:
$0
Explanation:
If an individual's total income (including Social security benefits + all other types of income) is less than $25,000, or $32,000 for married couples, then he/she will not have to pay any taxes on their Social Security benefits. Only if total income is higher than the current thresholds, should Social Security benefits be taxed. Depending of the individual's total income, between 50-85% of Social Security benefits must be taxed at the individual's tax bracket.
Answer:
The <em>covenant of good faith and fair dealing</em> simply requires all the parties to a contract to deal in an even-handed manner such that one party's action does not frustrate the other or prevent the other from getting the benefits of that contract.
In insurance, this covenant is sometimes captured under the heading <em>Uberrima fides</em>. This is a Latin phrase meaning <em>"Utmost Good Faith".</em>
In insurance, this covenant is legally binding on all parties to ensure they each reveal every information that is material to the acceptance or rejection of the risk (on the part of the Insurer) whilst on the part of the Insured the insurer is required to be explicit regarding the terms of the policy as well as the calculations by which the premium is arrived at.
For example, if an Insurance company is looking at covering someone under it's Life Insurance Policy, the person taking out the contract must disclose whether or not the Insured has any latent health issues which might shorten their lifespan. If there is such a condition, the Insurance company may still take on the risk albeit at a relatively higher rate than a client without such medical conditions.
An Insurance Company may breach this covenant if they delay or refuse to reasonable settle claims due to the Insured. It may also arise if the Insurance company by some technical manipulation intentionally under settles an Insurance claim.
If for instance, a Comprehensive Insurance Policy files a valid claim, the Insurer may be liable for negligence and or intentional wrongdoing.
Cheers!
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