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4 years ago

Is a promise to refrain from doing an unlawful act and, therefore, is a promise that will not support a contract.

2 answers:

6 0

I'm a little confused on this question however, I'm 99% sure the answer is illusory promise because an illusory promise is one that does not hold any legal weight due to it possibility being a biased and non mutual agreement and it's just a verbal contract in the place of a paper contract.

Tju [1.3M]4 years ago

6 0

Hey there!

If I'm remembering correctly, the correct answer is C, because an illegal consideration promise is to refrain something from doing an unlawful act and, therefore, is a promise that will not support a contract.
Illegal- unlawful

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If an individual's labor supply curve is downward sloping, this indicates that:

Vika [28.1K]

Answer:

A. the income effect dominates the substitution effect

Explanation:

7 0

3 years ago

An individual deposits an annual bonus into a savings account that pays 6% interest compounded annually. The size of the bonus i

Natasha_Volkova [10]

Answer:

Immediately after the fifth deposit the individual will have $54,950 in his account.

Explanation:

For each year you have to calculate the total savings that the indivual has in the account.

The first year, denoted by $Y_{0}$ , the individual deposits $20,000 in his account. At the end of the year the interests are accrued on that principal, and the individual also deposits $5,000 more that will bear interests next year. So we have:

$Y_{0}=$20,000$

$Y_{1}=$20,000*(1+0.06)+$5,000 = $26,200$

And for each year we calculate the total savings accumulated, using the savings of the previous year as this period's principal:

$Y_{2}=$26,200*(1+0.06)+$5,000 = $32,772$

$Y_{3}=$32,772*(1+0.06)+$5,000 = $39,738.32$

$Y_{4}=$39,738.32*(1+0.06)+$5,000 = $47,122.62$

$Y_{5}=$47,122.62*(1+0.06)+$5,000 = $54,949.98$

Therefore the answer is $54,949.98.

In general the formula used for each period is the following:

$P_{n} = P_{n-1}*(1+r)+D$

Where:

$P_{n}$ are the total savings for the current period,

$P_{n-1}$ are the total savings from last period,

$r$ is the interest rate,

$D$ are the monthly deposits made into the savings account.

We further know that $P_{0}=$20,000$ .

4 0

4 years ago

Perry Partnership distributed cash of $15,000 and a parcel of land in a liquidating distribution to Gupta, a partner. The land h

Pani-rosa [81]

Answer:

option (b) $55,000

Explanation:

Data provided in the question:

Cash distributed = $15,000

Fair market value of the land = $50,000

Inside basis at the time of the distribution = $52,000

Gupta's outside basis = $70,000

Now,

Gupta's Outside basis = Cash + Basis in land

$70,000 = $15,000 + Basis in land

Basis in land = $70,000 - $15,000

Basis in land = $55,000

Hence,

The answer is option (b) $55,000

4 0

4 years ago

Pluralistic ignorance efffect. How to apply in business administration? Give example

MrRa [10]

Pluralistic ignorance effect is a practice in which no ones believes but everyone thinks they believes. This is very particular to a business administration environment. I'll give you an example,
You are the kind of person that wants cleanliness and you notice that your friend is so messy, supposed to be you will tell her about her messiness but you noticed that no one cares about her, thus you stopped yourself from speaking,

3 0

4 years ago

A manufacturer of tiling grout has supplied the following data: Kilograms produced and sold 380,000 Sales revenue $ 2,736,000 Va

KATRIN_1 [288]

Answer:

Break-even point in units= 272,308 units

Explanation:

Giving the following information:

Variable manufacturing expense $ 1,349,000

Variable selling and administrative expense $ 399,000

Total variable cost= 1,748,000

Fixed manufacturing expense $ 336,000

Fixed selling and administrative expense $ 372,000

Total fixed costs= 708,000

<u>First, we need to calculate the unitary selling price and unitary variable cost</u>:

Unitary selling price= 2,736,000/380,000= $7.2

Unitary variable cost= 1,748,000/380,000= $4.6

<u>Now, to calculate the break-even point in units, we need to use the following formula:</u>

Break-even point in units= fixed costs/ contribution margin per unit

Break-even point in units= 708,000 / (7.2 - 4.6)

Break-even point in units= 272,308 units

6 0

3 years ago