Answer:
An implied agreement is based on a formal agreement.
Explanation:
A contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law.
There are different types of contract in business and these includes: fixed-price contract, cost-plus contract, bilateral contract, implied contract, unilateral contract, adhesion contract, unconscionable contract, option contract, express contract, executory contract, etc.
Mutual assent is a legal term which represents an agreement by both parties to a contract. When two parties to a contract both have an understanding of the parameters, terms and conditions surrounding a contract, it ultimately implies that they are in agreement; this is generally referred to as mutual assent.
Simply stated, mutual assent connotes agreement, acceptance and consent to a contract by both parties.
An implied contract can be defined as an informal contract that exists based on an assumption or understanding between two or more parties, rather than on terms that are formally and specifically defined.
This ultimately implies that, an implied agreement is not based on a formal agreement but on assumptions or understanding between the parties involved.
Answer:
The three ways in which a study might be classified as bad research is described below in detail.
Explanation:
- Lack of Research: When a study does not satisfy the research process conditions, it is not recognized to be a legitimate one.
- No Evidence: When researchers displease to present compelling testimony of their conclusions then, such work is not be trusted and the research becomes unreasonable.
- Biased opinions: A study, which serves all the method, contributes proof but is biased in one approach or the other, then such research is also classified as void.
<span>True. Every person who signs a negotiable instrument is liable for payment of that instrument when it comes due. Once a signature is put on the instrument it makes the person liable for payment on it.
True. An acceptor is primarily liable on an instrument. An acceptor is a bank or someone who promises to pay an instrument it is presented for payment.
True. Warranty liability on a negotiable instrument does not require a signature and extends to both signers and non signers. A warranty liability comes up when a person is trying to negotiate the instrument.
False. The dishonor of an instrument relieves secondary parties of liability. If someone is in dishonor of an instrument they are held secondarily liable of the instrument. The notice of dishonor is a formal act letting the party know they are being held secondary liable. </span>
They probably feel good about themselves.
A contract clause which specifies the amount of damages to be paid in the event of a breach is called a liquidated damages clause.
When parties are entering into a contractual agreement, certain provisions are catered for in the contract which allows payment of a specified sum should one of the parties be in breach of contract. This is called liquidated damages clause.
The purpose of adding the clause ( liquidated damages clause) is to ensure sure parties to the contract understand and performs their duties accordingly.
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