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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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The following information pertains to United Ways, a private voluntary health and welfare organization, for the year ended Decem
bazaltina [42]

Answer:

United Ways

Statement of Activities for the year ended December 31, 20X3:

Without Donor Restrictions

January 1, 20X3 balance          $ 3,013.888

Cash from donations                     519,000

Computer acquisition                  (230,000)

Transfer from restricted                 119,000

Equipment acquisition                  (119,000)

Program and supporting services expenses:

Fund-Raising                             ($250,888)

Public health education                (150,100)

Community services                    (125,900)

Management and general           (114,300)

December 31, 20X3 balance  $2,661,700     2,661,700

With Donor Restrictions

January 1, 20X3 balance           $1,119,688

Earned Investment Income         206,000

Research                                      (152,000)

Transfer to unrestricted              (119,000)

Other Research Expenses           (39,888)

December 31, 20X3 balance   $1,014,800       1,014,800

Donated audit services                 16,300

Audit Cost                                     (16,300)             0

Total Change in net assets                         $3,676,500

                       

Explanation:

a) Data and Calculations:

Balances in net assets at January 1, 20X3:

Without Donor Restrictions

January 1, 20X3 balance          $ 3,013.888

Cash from donations                     519,000

Computer acquisition                  (230,000)

Transfer from restricted                 119,000

Equipment acquisition                  (119,000)

Program and supporting services expenses:

Fund-Raising                             ($250,888)

Public health education                (150,100)

Community services                    (125,900)

Management and general           (114,300)

December 31, 20X3 balance  $2,661,700

Donated audit services           16,300

With Donor Restrictions

January 1, 20X3 balance           $1,119,688

Earned Investment Income         206,000

Research                                      (152,000)

Transfer to unrestricted              (119,000)

Other Research Expenses           (39,888)

December 31, 20X3 balance   $1,014,800

b) United Ways is not a profit-making organization.  It is guided by its missions.  Therefore, the terms “statement of activities” and “change in net assets” are used instead of “income statement” and “net income.”

7 0
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Which one of the following statements is TRUE? a. Company sponsorship of a local charity is an example of a nonpecuniary benefit
mojhsa [17]

Answer: c. An inside director is a board member who also holds a managerial position in the company

Explanation:

Inside Directors are indeed Board members who are employees/ hold managerial positions in the company.

They are in a unique position to help the board in Corporate Governance because as they are on the ground, they have specialized knowledge of the company and as such can provide complete information to the Board.

They typically include a Company's top executives such as the CEO, CFO and the COO.

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asambeis [7]

Answer:

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Explanation:

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