<span>They are in the introduction stage of the product life cycle. Kellogg has not yet introduced them to many stores, and people don't yet have a good idea of what benefits the product offers. Kellogg needs to start an advertising campaign to educate the public on blue ginger multi-grain blue rice chips.</span>
The contract is defined as an agreement enforceable by law. Consideration is the promise made by the other party. The promise of one party is the consideration for the other party. Both the parties promise each other to perform their obligation in exchange for the consideration.
<h3>What is an agreement?</h3><h3 />
Agreement is every set of promises which results in the formation of consideration for each other. Their are always two parties to a contract and every party must perform its obligation which is the consideration for the other party.
Bob agreed to remove beehive , him removing the beehive is the consideration for Suzie. Suzie promised to pay $120 for removal of beehive is the consideration for Bob.
Therefore, the consideration in this example will be "Both the removal of a beehive and the payment of $120.00" OPTION C is correct regarding the problem.
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Answer:
Depreciation expense for 2021 will be $14700
Explanation:
The straight line method charges a constant depreciation expense each period throughout the useful life of the asset. The depreciation expense per period under the straight line method is calculated as follows,
Depreciation expense = (Cost - Residual value) / Useful life of the asset
Depreciation expense = (81000 - 7500) / 5
Depreciation expense = $14700
Answer:
The correct answer is letter "A": voidable.
Explanation:
Voidable contracts are those that cannot be enforced because one or the two parties involved are not legally eligible to go on in such an agreement. Reasons to void a contract include but are not limited to failure to disclose material facts, legal incapacity to enter a contract or inconsistent contractual terms.
Thus, <em>Bob's contract to purchase a car is voidable since he is legally incapable of signing agreements due to his age (17 years old).</em>
