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Afina-wow [57]
3 years ago
12

Todd offers to shovel the snow off Maria’s patio for $25. Maria agrees verbally and shakes Todd’s hand to sign off on the agreem

ent. When Todd has completed the shoveling job, Maria pays him the $25. This scenario best illustrates a(n) _____.
Business
1 answer:
AfilCa [17]3 years ago
7 0

Answer:

express and bilateral contract

Explanation:

An express contract is a contract in which the parties involved have carefully and explicitly/openly set the terms of the contract.

This contract contains agreements of both parties either verbally or in writing. Express contracts are also called Special contracts.

from the question, Todd's offer to shovel Maria's patio for a fee and her acceptance of the fee for the job is an express contract as it is oral.

A bilateral contract on the other hand is a contract in which both parties involved agree to their part of the contract. In the case of the question, Todd's part is to shovel Maria's patio while Maria's part of the contract is to pay Todd $25 for the job.

I hope this helps.

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Better Houses, Inc. has been contracted to build an addition on the Joyners' house. It built half of the addition and then unexp
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Better Houses, Inc. has been contracted to build an addition on the Joyners' house. It built half of the addition and then unexpectedly announced that it was not going to finish the job. Such a desertion of work is called "Abandonment of contractual obligations".

<h3>What is contractual obligations?</h3>

Contractual obligations are responsibilities that each party is bound by law to fulfill under the terms of the agreement.

Each contract involves one or both parties exchanging anything of value in connection with a variety of duties, such as goods, services, money, etc.

Elements of a Contract are-

  • Offer: An offer was made when one of the parties pledged to carry out or refrain from carrying out a specific action in the future.
  • Promise of consideration: A promise of something of value in return for the intended conduct or inaction. This can be demonstrated by a substantial outlay of resources, a promise to provide a service, a commitment not to do something, or reliance on the promise. The incentive for the parties to enter into the agreement is known as consideration.
  • Acceptance: The offer was unmistakably accepted. Acceptance can be demonstrated through words, actions, or by carrying out the contract's requirements. In general, the terms of the acceptance must match those of the offer. If not, the acceptance is interpreted as a counteroffer and rejection.

To know more about the contractual obligations, here

brainly.com/question/22433474

#SPJ4

8 0
2 years ago
10. Uneven cash flows A series of cash flows may not always necessarily be an annuity. Cash flows can also be uneven and variabl
GaryK [48]

Answer:

$1,155,478

Explanation:

Present value is the sum of discounted cash flows

Present value can be found using a financial calculator

Cash flow in year 1 = $100,000

Cash flow in year 2 =  $20,000

Cash flow in year 3 = $480,000

Cash flow in year 4 = $450,000

Cash flow in year 5 = $550,000

I = 9%

Present value = $1,155,478

To find the PV using a financial calculator:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.  

3. Press compute  

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