1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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.

You might be interested in
If you were starting a new business, describe at least three departments to the company that you would need right away. Why are
Natali [406]

Answer:

I would need a computer and then a laptop to work fast as I can and that will make me get more money

7 0
3 years ago
In its first year of operations, Crane Company recognized $29,500 in service revenue, $6,100 of which was on account and still o
Montano1993 [528]

Answer: See explanation

Explanation:

1. Calculate the first year's net earnings under the cash basis of accounting, and the first year's net earnings under the accrual basis of accounting.

The first year's net earnings under the cash basis of accounting will be:

Service revenue = $23400

Less: Expenses = $14310

Net income = $9090

The first year's net earnings under the accrual basis of accounting will be:

Service revenue = $29500

Less: Expenses = $15500

Net income = $14000

2. Which basis of accounting (cash or accrual) provides more useful information for decision-makers?

It should be noted that the accrual basis of accounting gives decision makers more useful information. This is due to the fact that the decision makers will probably want to know the revenue and the expenses that were incurred for a particular period and every other necessary details.

8 0
3 years ago
A company sells goods for $150,000 that cost $54,000 to manufacture. Which statement is true? a. The company will recognize sale
kirza4 [7]

Answer:

The correct answer is C

Explanation:

Finished goods are those goods which have been finished or completed through the process of the manufacturing or purchased or bought in the completed form, but not sold yet to the customers.

The finished goods cost or expense is considered to be a asset which is short term in nature, which is expected to be sold in less than a year or period.

So, when the company sold the goods that worth $54,000 to the manufacture for $150,000, this will lead to decrease in the finished goods of the company which worth $54,000.

7 0
4 years ago
What is important to know about yourself when making a career choice?
yaroslaw [1]
It’s important to know your limits and your strengths.
The goal is to do your best in the job you have, so before making that important choice, it’s good to think about maybe your talents or hobbies that you have.
You could ask yourself questions such as:

Do I communicate well with people?

What am I best at?

Am I able to fulfill the tasks that are included in this career?

And I’m sure there are more questions, but it is a good thing to know yourself that way when you apply for a job, you know what you’re getting into.

I hope this helps!
~Brooke❤️
5 0
4 years ago
PLEASE HELP
olasank [31]

The correct answer is A. A publisher prevents its employees from using office computers for personal use.

Explanation

Internal compliance is a set of strategic internal rules and measures focused on employee behavior and ethics. This internal Compliance was obtained with the aim of improving business practices aimed at raising the quality level of results, goals, and objectives. According to the above, the correct answer is "A. publisher prevents its employees from using office computers for personal use." because this is an example of a business rule that pre-empted the misuse of company equipment preventing its employees from using it for purposes other than corporate ones.

8 0
3 years ago
Other questions:
  • A monopolistically competitive firm is operating in the short run at the optimal level of output and is earning negative economi
    12·1 answer
  • Consider a risky portfolio. The end-of-year cash flow derived from the portfolio will be either $70,000 or $200,000 with equal p
    6·1 answer
  • Miller Mining, a calendar-year corporation, purchased the rights to a copper mine on July 1, Year 1. Of the total purchase price
    5·1 answer
  • The following data for Romero Products Inc. are available:
    9·1 answer
  • Autumnâ Services, Inc. acquired 124 comma 000 shares of Springâ Metals, Inc. on Januaryâ 1, 2018. Spring declares a cash dividen
    12·1 answer
  • Which of the following would not be found in a schedule of noncash investing and financing activities, reported at the end of a
    13·1 answer
  • You want to have $66,000 in your savings account 9 years from now, and you're prepared to make equal annual deposits into the ac
    12·1 answer
  • Review the transactions and determine the accounts, the account types (use assets, liabilities, equity, dividends, revenue, and
    15·1 answer
  • How legislation can lead to the success and failure of a company​
    15·1 answer
  • a project requires an investment of $1,400 and has a net present value of $400. if the internal rate of return is 12%, what is t
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!