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MariettaO [177]
3 years ago
13

ack and Jackie had been living together in Kansas for about a year. Jack wanted to marry Jackie, so he bought a $10,000 engageme

nt ring and romantically gave it to her when they went out to dinner. She accepted his proposal of marriage and the ring and went about arranging their wedding ceremony for about six months later. She had to make several non-refundable deposits. But about 3 weeks before the wedding, without any explanation Jack called off the engagement and demanded that Jackie return the engagement ring, which she refused to do. Is Jack entitled to get the ring back or can Jackie keep it? For up to 20
Business
1 answer:
Dahasolnce [82]3 years ago
8 0

Answer:

Jack is NOT entitled to get the ring back and Jackie keep it.

Explanation:

A Contract existed between Jack and Jackie and the ring was given to Jackie after <u>the acceptance of a marriage proposal</u> because 'she accepted his proposal of marriage'. Therefore there is an oral enforceable contract in place.

Another thought or evidence in support of Jackie's position is the fact they had lived together for over a year, hence <u>it is more likely than not that a marriage intention must have been in place</u>.

Furthermore, Jack cannot be entitled to get back the ring because in the United States <u>statute of frauds also cover a prenuptial agreement</u>

<u>Therefore, for Jack to enforce any position or claim of the ring, there must be an agreement to prove that  (something in writing), that Jackie had signed; stating that she would return the ring if he changed his mind.</u>

In the scenario, that condition is not present and Jackie would keep the ring.

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Explanation:

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A Reserve Requirement is money that the Central Bank requires that Banks do not loan out and instead keep in reserve.

For example, if the reserve rate is 10% and a bank has $10 they can only loan out $9.

Assuming they loan out $9 then they created $19 in the economy because their customers still own the original $10 but now they have also given loans of $9. The people who take the loans then deposit it in another bank. That bank would keep $0.90 in reserve and loan out $8.10 meaning that $27.10 now exists in the economy.

The process goes on and on until it gets to $100.

A simpler way to get to the final figure is to divide 1 by the reserve requirement = 1/r which is the money multiplier.

Using the above example, that would be 1/0.1 which is 10.

Multiplying this 10 by the initial deposit of $10 will give you that same $100.

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3 years ago
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An offset is a countertrade agreement whereby a company offsets the hard currency purchase of a product that is unspecified from a particular nation in the future.

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Answer:

A. Using the same format you would use if you were responding in writing

Explanation:

here the answer should be A that is

A. Using the same format you would use if you were responding in writing.

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