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iren [92.7K]
3 years ago
9

Gerard, an adult, contracts with Communiserve to purchase, in installments over a period of five years, a very large quantity of

services that he will probably never need. Although Gerard understands what he is doing when he enters the contract, he has a mental condition that impairs his ability to act in a reasonable and rational way. Under the Restatement:a. Gerard’s contract is voidable at his option while it is entirely executory.b. Gerard cannot avoid the contract if Communiserve had no reason to suspect Gerard’s incompetency.c. Gerard cannot avoid the contract if the terms are fair.d. Gerard can only avoid the contract if the terms are grossly unfair.63. In most states, whether the time within which a minor disaffirms a contract constitutes a reasonable time is determined by:
Business
1 answer:
Ganezh [65]3 years ago
5 0

Answer:

a. Gerard’s contract is voidable at his option while it is entirely executory.

Explanation:

In the United States of America, one of the most widely used recognized and most cited legal treatises is the Restatement of Contracts. It allows legal luminaries (judges and lawyers) to have a general understanding of non-binding authorities in contract or common law.

According to the Restatement (second) of Contract, voidable contract is one where one or more parties have the power, by a manifestation of election to do so, to avoid the legal relations created by the contract, or by ratification of the contract to extinguish the power of avoidance.

Hence, under the Restatement, Gerard’s contract is voidable at his option while it is entirely executory.

63. In most states, whether the time within which a minor disaffirms a contract constitutes a reasonable time is determined by the fact and circumstance of the case.

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An organizational chart of a company shows vice presidents with responsibility for key areas such as design, manufacturing, sale
Romashka-Z-Leto [24]

Answer: Functional

Explanation: The functional structure of an organisational chart places people with similar skills who perform similar activities in a group under a common manager who answers to an executive a level up in the hierarchy who may oversee multiple departments. Therefore, an organizational chart of a company showing vice presidents with responsibility for key areas such as design, manufacturing, sales, marketing, and after-sales support would reflect a functional structure.

An advantage of the functional structure is that employees are allowed to focus their collective energies on executing their roles as a department but sometimes they might develop tunnel vision (seeing the company solely through the lens of the employee’s job function) and often at times there is a lack of inter-departmental communication.

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3 years ago
Which of the following BEST describes a company's proper liquidity management?
Naddika [18.5K]

Answer:

A. Liquidity management is a balancing act, managers try to find liquidity levels that are neither too high not too low.

Explanation:

Maintaining proper liquidity is an important financial objective of management. Proper liquidity management demands that an entity should be able to meet his short term financial obligation and making sure that liquid assets of the entity are not idle. In order to achieve this, the best way to go is to maintain a level that is neither too high and not too low. Not too high means the entity is not holding too much cash or liquid assets than it currently need to meet its short term financial obligation.

For example, not keeping too much cash in current account but investing them in interest-earning investment assets.

Not too low means the cash or liquid assets held by an entity should not less than the amount needed to meet its short term financial obligation. For example, making sure that the entity has enough cash or readily convertible liquid assets that can be used to pay vendors, rent, interest and meet other short term financial obligation.

Option B is false because keeping too much does not help to maximize short term earnings which is a feature of proper liquidity management. Option C is wrong because there is no guideline to support that deferring coupon payment won`t attract payment and this does not connote proper liquidity management.

Option D is obviously false and does not describe proper liquidity management.

4 0
3 years ago
Read 2 more answers
Over the past year you earned a nominal rate of interest of 10% on your money. The inflation rate was 5% over the same period. T
Veronika [31]

Answer:

5%

Explanation:

Purchasing power refers to the amount of goods and services a unit of currency can buy.

Purchasing power can be determined by finding the real interest rate.

Real interest rate = Nominal interest rate - inflation rate

10% - 5% = 5%

I hope my answer helps you

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3 years ago
What costs more to be USED, coal or solar power/panels?
LuckyWell [14K]

Solar power panels.

7 0
3 years ago
Which of the following would NOT cause a shift in supply? A. changes in the price of inputs B. changes in the price of other goo
adell [148]

Answer:

C.

Explanation:

<em>The correct answer would be changes in consumer input.</em>

The supply of a good can be influenced by changes in the price of inputs for that goods, changes in the price of substitute goods, as well as changes in technology that positively or negatively affect the production of such goods.

What will not affect the supply of any good is changes to consumer's input. An input generally referred to a substance that is required to produce an output. Unless the consumer of a good is also the producer of that good, a consumer's input will not impact the supply of a product.

The correct option is C.

4 0
3 years ago
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