If Fay offers to pay grey $50 for a tennis lesson for hetty. They agree to meet the day after tomorrow to exchange the cash for the lesson. These parties have: a. a bilateral contract.
<h3>What is a bilateral contract?</h3>
A bilateral contract can b e defined as the type of contract in which two or more people or parties enter into an agreement in which the parties involved in the contract tend to agreed to fulfil the agreement they made when entering the contract.
Based on the scenario since the parties involved agree to meet the day so as to exchange the cash for the lesson the parties have carried out what is called a bilateral contract.
Therefore If Fay offers to pay grey $50 for a tennis lesson for hetty. They agree to meet the day after tomorrow to exchange the cash for the lesson. These parties have: a. a bilateral contract.
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The complete question is:
Fay offers to pay Grey $50 for a tennis lesson for Hetty. They agree to meet the day after tomorrow to exchange the
cash for the lesson. These parties have
a. a bilateral contract.
b. a third-party contract.
c. a unilateral contract.
d. no contract.
Answer:
President Woodrow Wilson
Explanation:
The illness of President Woodrow Wilson led to his wife, Edith, assuming some of his responsibilities and decision making. After Wilson suffered a stroke in October 1919, Edith essentially became the de facto First Lady president, screening visitors and making important decisions on his behalf. She continued to serve in this capacity until Wilson's death in 1924.
The correct answer to this open question is the following.
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It is correct to say that it is relatively easy that entrepreneurs can enter and leave markets in a free enterprise system of the United States. Indeed it is one of its advantages.
However, the same affirmation cannot be applied to a country with a command economy because in a command economy the conditions are in total opposition to a free-market economy where individuals promote capitalist ideas to invest money and create companies in order to be rich.
In a command economy, it is the state the one that owns the means of production. The central government decides the kind of products to be produced, the price of the products, how to produce the goods, and the amount that is going to be produced.
The implications that this has for the law of supply in that country is that it cannot be considered because the law of supply/demand is only valid in a free market economy, not in a command economy.
