Answer:
the answer is E. a legal entity engaged in business activities solely with the intent of serving its employees without the intent of making a profit.
The future value of a current investment is calculated through the equation,
F = P x (1 + i)^n
where F is the present value, F is the future value, i is the nominal interest rate, and n is the number of years.
Substituting the known values,
F = ($375)(1 + 0.03)^1 = $386.25
Hence, the answer to this item is letter C.
True, the employer and employee will have to contribute to F.I.C.A and the Medicare program.
1. This case primarily involves an implied contract, where things may not have been written down but the actions by both sides show there was an agreement.
2. Implied contract may also be refereed to as an implied-in-fact contract because the facts (not written documents) show there was an agreement.
3. The court would rely on the conduct of the parties. Since there isn't a written agreement, they look at the actions people took to see if they behaved as if they were in a contract.
4. Implied contracts do not require an agreement between the parties. Someone may be operating on the assumption of an implied contract and the other person disagrees that they acted in a way that implied a contract, but it is their actions that matter not how they felt about the agreement.
5. To determine if a contract exists the court will look at: furnished a good or service, expected to be paid, knew or should have known about that expectation, had a chance to reject the goods or services
