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yan [13]
3 years ago
5

McElroy owned 104 acres worth about $230,000. Mired in financial difficulties, he approached Grisham, asking to borrow $100,000.

Grisham refused, but ultimately the two reached this agreement: McElroy would sell Grisham his property for $80,000, and the contract would include a clause allowing McElroy to repurchase the land within 2 years for $120,000. In most states, this contract would likely be:
A. Void because the rate of interest is usurious.

B. Enforceable because the parties were free to negotiate the terms of the contract.

C. Void for reasons of public policy.

D. Void because the agreement is unconscionable
Business
1 answer:
Vikki [24]3 years ago
4 0

Answer: B. Enforceable because the parties were free to negotiate the terms of the contract.

Explanation:

The contract is Enforceable because both parties went into the contract with full mind and body and set and agreed to terms.

The terms were neither unconscionable not were the rates usurious.

The Agreement was not against public policy either.

This means that the agreement is Enforceable in most states in the country.

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In noting that he had "yet to engage in a direct-action campaign that was ‘well timed,’" martin luther king, jr. , was most like
Mamont248 [21]

Martin Luther King, Jr. was argued that African-Americans should be more patient and that civil rights should not be for all.

<h3>Who is Martin Luther King Jr?</h3>

Martin Luther King Jr can be regared as an American Baptist minister as well as

activist who was the civil rights movement leader in 1955 .

Therefore, he stressed that African-Americans should be more patient and that civil rights should not be for all.

Learn more about Martin Luther King Jr at;

brainly.com/question/24034250

5 0
3 years ago
In the context of social responsibility and environmental management, by 2020, China’s _____ will be more than double the closes
Katena32 [7]

Answer:

Basel Convention

Explanation:

The overarching objective of the Basel Convention on the Control of Transboundary Movements of Hazardous Wastes and their Disposal, also known as the Basel Convention, is to protect human health and the environment against the adverse effects of hazardous wastes. This is China's main contribution towards social responsibility and environmental management that will surpass the United States contribution.

3 0
3 years ago
n rural areas electrical power is often sold by ____________ that take advantage of the government's policy to sell them electri
Dmitriy789 [7]

Answer:

Cooperatives

Explanation:

Cooperatives are people-centered enterprises owned, controlled, and run by and for their members to realize their common economic, social, and cultural needs and aspirations.

4 0
3 years ago
Seth, Janice, and Lori each borrow 5,000 for five years at an annual nominal interest rate of 12%, compounded semi-annually. Set
Margaret [11]

Answer:

The total amount of interest paid on all three loans is 8,748.

Explanation:

Each person has borrowed 5,000 for the same period and with the same interest rate. However, the repayment is made differently by each person.

We calculate the interest paid by each person, and then sum up the three interest payments.

Seth pays = [5000 x (1 + 0.12/2)^10] - 5000 = 3,954

Janice pays = 5,000 X 0.06 x 10 = 3,000

Lori pays = [(5,000 x 10) / 7.36] - 5,000 = 1,794

Total interest payment = 3,954 + 3,000 + 1,794 = 8,748  

3 0
3 years ago
Read 2 more answers
Exhibit 4.1 The balance sheet and income statement shown below are for Koski Inc. Note that the firm has no amortization charges
yuradex [85]

Answer:

Koski Inc.

Quick Ratio:

Quick Ratio = (Current Assets - Inventory) divided by Current Liabilities

Quick Ratio = $(23,595 - 12,480) / $(17,160 -5,460)

Quick Ratio = 11,115 / 11,700 = 0.95

Explanation:

The quick ratio is a financial metric that shows the short-term liquidity position of a company.  It measures the company's ability to settle its short-term obligations using its most liquid current assets.  The most liquid assets are cash and near cash current assets.

Inventory is always removed in calculating the most liquid current assets.  Inventory will take some time before it can be converted to cash or near cash, given the cash conversion cycle.

The quick ratio is also called the acid-test ratio.  It is also considered as more conservative than the current ratio which measures the coverage of current liabilities by all current assets, including inventory.

In our workings, we eliminated inventory from current assets.  We also eliminated notes payable which would be rolled over the next year.

4 0
3 years ago
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