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Aleksandr-060686 [28]
3 years ago
5

Dean, the president of Billing & Credit Company, promises to pay his employee Ewing, who is dangerously obese, $10 for every

pound that he loses within the next eleven months. Ewing agrees, diets and exercises, loses 154 pounds, and asks Dean for $1,540. Dean refuses to pay, saying that he does not remember the promise, but that even if he did make it, there was no consideration, and Ewing’s improved health is a sufficient benefit for his effort and sacrifice. Ewing files a suit against Dean. In whose favor is the court likely to rule, and why?
Business
1 answer:
Lunna [17]3 years ago
8 0

Answer: In Favour of Ewing.

Explanation:

When Dean made that promise, he got into a contract with Ewing.

Now for a contract to be enforceable, 4 components must be satisfied. These components are, Agreement, Capacity (mental), Consideration and Legality.

From the above text we can tell that this is therefore a valid contract because both of them agreed to the proposal and were both of sound mind when they did. There was a Consideration ( the benefit in the contract) of $10 per pound and this contract is legally sound so this is a valid contract.

Ewing has fulfilled his side of the bargain and is entitled to his reward or payment.

Dean's claim that Ewing’s improved health is a sufficient benefit for his effort and sacrifice which indeed is a benefit, should not be considered sufficient because it was not agreed upon as a term in the contract.

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A $2,000 cash dividend is planned in 2019. No dividend was paid in 2018. 1,000 shares of 5% cumulative $10 par value preferred s
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Answer:

C) $1000

Explanation:

First lets calculate the cumulative preferred stock dividend for 2 years

(1000 * 10 ) * 5% = 500 / year

so for 2 years = $1000 since it is cumulative and not paid in one year is added to next year.

Total dividend payable = $2000

so for common stock whatever is left over is paid thus,

Common stock share = Total - Preferred cumulative = 2000 - 1000 = $1000

Hope that helps.

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3 years ago
An economic decision will affect all people, regardless of how they feel or believe
Serjik [45]
Wait is this a question? But yes, this is true.:-)
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2 years ago
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Brilliant_brown [7]

When working with international firms, U.S businesses expect socially responsible behavior from their business partners.

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American businesses are aware that doing business abroad will boost productivity and broaden their population, which will promote economic expansion. Since the beginning of time, there have been numerous international exchanges, and American businesses now recognize the advantages of offering their services abroad.

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4 0
2 years ago
Choose the items below that would be added to the book balance on a bank reconciliation. (Check all that apply.)
Blizzard [7]

Answer:

A. Interest earned on the depositor's account

B. Deposit in transit and Note collected by the bank for the depositor

Explanation:

In Financial accounting, bank reconciliation can be defined as an evaluation which give a complete details of the financial items responsible for any difference between the balance of the cash account in the balance sheet and the cash balance reported in an entity's bank statement. These reconciliations should be done at regular intervals so as to ensure a balanced record of the cash account are kept by an organization or firm.

Adjusted balance ends the bank section of a bank reconciliation. Thus, in the event of any fraudulent behavior by an employee, the bank reconciliation would detect any anomaly or financial fraud in the organization.

In a nutshell, after a reconciliation of the bank statement, the adjusted bank balance should be equal to the company's ending adjusted cash balance on the balance sheet.

The items that would be added to the book balance on a bank reconciliation include the following;

A. Interest earned on the depositor's account.

B. Deposit in transit and Note collected by the bank for the depositor.

3 0
3 years ago
Refer to the following selected financial information from our company. Compute the company's profit margin for Year 2.
Marianna [84]

Answer:

a. 14.1%

Explanation:

Year 2

Net Profit Margin = Earnings Before Tax / Sales × 100

                             = $ 67,250 / $478,500 × 100

                             = 14.05 or 14.1 %

3 0
3 years ago
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