1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
bulgar [2K]
3 years ago
11

Joe and Jack have a written contract whereby Joe agrees to sell Jack a plot of land for $100,000. Later, without terminating the

first contract, the parties modify the deal so that Joe sells Jack the same plot of land for $125,000. The second agreement is not a contract because:a. the first contract was not terminated.b. there is no consideration for Jack's promise.c. Joe's promise is illusory.d. written contracts for the sale of land cannot be modified.
Business
1 answer:
mina [271]3 years ago
7 0

Answer:

The answer is: B) there is no consideration for Jack's promise.

Explanation:

Consideration (in contract law) is the benefit that must be bargained for between the parties involved. It is the essential reason for the parties entering a contact. Consideration must have some value and is exchanged on the performance or promise from the other party.

Common law rules on contract modifications require some new consideration in order  to modify an existing contract. In this case, only Jack added some new consideration (more money) to the written contract, Joe didn't add anything new.

You might be interested in
During 2020, Lincoln Company hires seven individuals who are certified to be members of a qualifying targeted group. Each employ
Montano1993 [528]

Answer:

$16,800

Explanation:

Calculation to determine what Lincoln Company's work opportunity credit is

Work opportunity credit= $6,000 * .40 *7

Work opportunity credit = $16,800

Therefore Lincoln Company's work opportunity credit is $16,800

7 0
2 years ago
Problem Page Watson Company's employees earn $290 per day and are paid on Friday for a five-day work week. This year, December 3
vredina [299]

Answer:

<u>inocme statment:</u>

wages expense: understate

<u>net income</u> overstate

<u>blanace sheet</u>

wages payable: understate

Retained Earnings: overstate

Explanation:

If the adjusting entry is not made, then the expenses will be lower than it should.

Thereofre the net income will be overstate as there are more expenses but weren't recorded.

the balance sheet will not represent accurate the liabilities as there is wages payable which are not recorded.

also, in the blaance sheet the Retained Earnings account will be overstate as it include the net income which is overstate.

5 0
3 years ago
Under the Customer Information Program (CIP) rules, a person's status as a customer equates with account holders. Which activity
Len [333]

Answer:

A

Explanation:

This is because it is only an account under a bank that can purchase a general purpose reloadable prepaid cards with an activated overdraft feature.

6 0
3 years ago
Megan McCoy has a bachelor's degree in business management and human resources. She has 5 years of HR experience as an HR assist
mote1985 [20]

Answer:

The correct option of this question is (B). Explanation of this answer is given below in the explanation section

Explanation:

(B) is Correct Option:

Human resource manager in an organization is responsible for planning, directing and coordinating human resource management activities such as employee compensation, employee recruitment, promotions offer to an employee, etc. The major duties of the HR manager is to manage the human resource in an organization.

Why other options are not correct

(A). Interaction with customers to provide information in response to inquiries about products and services, and to handle and resolve complaints is not the responsibility of the HRM manager. It is the responsibility of the Marketing department and customer service department. In short, the customer service and marketing department are mainly responsible to perform such activities in an organization.

(C). Analyze financial information and prepare financial reports to determine or maintain record of assets, liabilities, profit and loss, tax liability, or other financial activities within an organization is the responsibility of the accounting department. And, accounting manager is responsible for such types of activities to perform in an organization.

(D) Supervise and coordinate the activities of clerical and administrative support workers is the responsibility of Admin (a managerial post) working in the administrative unit of an organization. Usually, at this post, first-line manager, team lead, assistant manager are working under the supervision of the administrative department.

(C) Compile and keep personnel records. Record data for each employee, such as address, weekly earnings, absences, amount of sales or production, supervisory reports on ability, and date of and a reason for termination is also a responsibility of the HRM and sales department. However, it is noted some responsibility such as employee record management is the sole responsibility of the HRM department and HRM manager. But termination of an employee, absence recording, amount of sales or production are the responsibility of other departments such as the administrative department, sales department, and marketing department, etc. However, this option is also correct in a sense only if employee management involved, otherwise, this option is not correct.

3 0
3 years ago
Raul recently started a real estate company with a unique way of presenting a menu of​ services, each with a fixed​ price, rathe
Zigmanuir [339]

Answer:

small business

Explanation:

Based on the company specifications that is provided about Raul's company the most appropriate representation of his firm would be a small business. This is the case because a small business is categorized as any business with one owner controlling and running a business with less than 100 employees. Seeing as Raul only has 21 brokers employed and is planning to expand his model nationally but has NOT yet done so, then he is the owner of a small business.

6 0
3 years ago
Other questions:
  • Pendergast, Inc., has no debt outstanding, and has a total market value of $180,000. Earnings before interest and taxes (EBIT) a
    5·1 answer
  • Which model of decision making explains how managers should use logic to determine the optimal means of furthering the organizat
    6·1 answer
  • Which of the following is an example of division of labor?
    14·1 answer
  • An economy has $10 trillion in consumption, $2.5 trillion in investment, $3 trillion in government purchases, $1 trillion in exp
    10·1 answer
  • If you are employed to advertise a product, according to the text, the first thing you should consider in planning your advertis
    12·1 answer
  • Baird Bros. Construction is considering the purchase of a machine at a cost of $125,000. The machine is expected to generate cas
    12·1 answer
  • Paul Corporation reported net income of $260,000 during the current calendar year. The company had 10,000 common shares outstand
    7·1 answer
  • How do i give brainliest if you answer correctly will give u brainliest
    9·2 answers
  • Need help with accounting. ASAP
    12·1 answer
  • Within the 4e framework for social media, the ultimate goal of a firm is to ______ the customer. multiple choice question. excit
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!