All economic systems must answer the 3 basic questions:
1. What goods and services will be produced
2. How will the goods and services be produced?
3. Who will consume the goods and services?
This is an example of release. Group of answer choices release rescission novation waiver arbitration.
- A waiver happens when a party purposefully renounces their ability to enforce a contract.
- A release is created when one party declares the other side is not required to fulfill its obligations.
- Damages are amounts given as compensation for costs directly suffered as a result of a contract breach, such as costs incurred from another source.
- The fundamental components necessary for the agreement to be a valid offer and acceptance, adequate consideration, capacity, and legality are: mutual assent, expressed through a contract-compliant offer.
What are the laws of contract?
- The area of law that deals with creating and upholding contracts is known as contract law.
- An agreement that can be upheld by a court is referred to be a contract.
- The body of legislation known as contract law regulates the formation of contracts, their performance, and the creation of just reparations in the event of a breach.
Learn more about laws of contract
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Answer:
$84,147.26
Explanation:
For this question, we use the Future value formula that is shown in the spreadsheet attachment below:
Data provided in the question
Present value = $0
Rate of interest = 9%
NPER = 8 years
PMT = $7,000
The formula is shown below:
= -FV(Rate;NPER;PMT;PV;type)
So, after solving this, the future value is $84,147.26