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Fynjy0 [20]
3 years ago
10

Which of the following is a duty of the Board of Governors of the Federal Reserve​ System? A. Regulating credit with the approva

l of the president under the Credit Control Act of 1969. B. Setting margin​ requirements, the fraction of the purchase price of the securities that has to be paid for with cash. C. Setting the maximum interest rates payable on certain types of time deposits under Regulation Q. D. All governors advise the president of the United States on economics policy.
Law
1 answer:
Rashid [163]3 years ago
6 0

Answer:

A, Regulating credit with the approval of the president under the credit control act of 1969.

Explanation:

The sysyem supports a healthy economy fot the US households and business.

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Describe the ways courts handle contracts for which a required license is missing.
Aliun [14]

Answer:

Is the Agreement a Contract?

In a dispute, the court must initially determine whether the agreement constitutes a contract or not. In order for an agreement to be considered a valid contract, one party must make an offer and the other party must accept it. There must be a bargained for exchange of promises, meaning that something of value must be given in return for a promise. In addition, the terms of a contract must be sufficiently defined for a court to enforce them.  

Enforcement and Contract Defenses

If a court determines that a contract exists, it must decide whether that contract should be enforced. There are a number of reasons why a court might not enforce a contract, called defenses to the contract, which are designed to protect people from unfairness in the bargaining process, or in the substance of the contract itself.

If there is a valid defense to a contract, it may be voidable, meaning the party to the contract who was the victim of the unfairness may be able to cancel or revoke the contract. In some instances, the unfairness is so extreme that the contract is considered void, in other words, a court will declare that no contract was ever formed. What are some of the reasons a court might refuse to enforce a contract?

1. Capacity to Contract

In order to be bound by a contract, a person must have the legal ability to form a contract in the first place, called capacity to contract. A person who is unable, due to age or mental impairment, to understand what she is doing when she signs a contract may lack capacity to contract. For example, a person under legal guardianship due to a mental defect completely lacks the capacity to contract. Any contract signed by that person is void.  

A minor generally cannot form an enforceable contract. A contract entered into by a minor may be canceled by the minor or their guardian. After reaching the age of majority (18 in most states), a person still has a reasonable period of time to cancel a contract entered into as a minor. If the contract is not canceled within a reasonable period of time, it will be considered ratified, making it binding and enforceable.

Courts are usually not very sympathetic to people who claim they were intoxicated when they signed a contract. Generally a court will only allow the contract to be voided if the other party to the contract knew about the intoxication and took advantage of the person, or if the person was somehow involuntarily drugged.

2. Undue Influence, Duress, Misrepresentation

Coercion, threats, false statements, or improper persuasion by one party to a contract can void the contract. The defenses of duress, misrepresentation, and undue influence address these situations:

Duress: A party must show that assent or agreement to the contract was induced by a serious threat of unlawful or wrongful action, and that she had no reasonable alternative but to agree to the contract.

Undue Influence: Undue influence is often defined as unfair persuasion by a person who, because of his or her relation to the victim, is justifiably assumed by the victim to be one who will not act in a manner that is inconsistent with the victim's welfare.

Misrepresentation: A misrepresentation may be a false statement of fact; the deliberate withholding of information which a party has a duty to disclose; or an action that conceals a fact.

3. Unconscionability

The unconscionability defense is concerned with the fairness of both the process of contract formation and the substantive terms of the contract. When the terms of a contract are oppressive or when the bargaining process or resulting terms shock the conscience of the court, the court may strike down the contract as unconscionable.

A court will look at a number of factors in determining if a contract is unconscionable. If there is a gross inequality of bargaining power, so the weaker party to the contract has no meaningful choice as to the terms, and the resulting contract is unreasonably favorable to the stronger party, there may be a valid claim of unconscionability. A court will also look at whether one party is uneducated or illiterate, whether that party had the opportunity to ask questions or consult an attorney, and whether the price of the goods or services under the contract is excessive.

4. Public Policy and Illegality

Rather than protecting the parties to a contract as other contract defenses do, the defenses of illegality and violation of public policy seek to protect the public welfare and the integrity of the courts by refusing to enforce certain types of contracts.  Contracts to engage in illegal or immoral conduct would not be enforced by the courts.

4 0
1 year ago
This Constitutional Clause Concerns The... (Article I, Section 8, U.S Constitution)
Yanka [14]

Answer:

The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States; ... 1 Taxing Power.

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3 years ago
Late one Saturday evening , and Mark decide to a local.convenience store Mark has a loaded shotgun for the robbery , but both me
Iteru [2.4K]

Answer:

Mark is the accomplice to murder because he killed the cashier. During the robbery, he wanted only to scare the cashier, but the cashier did not think the same. So cashier tried to defend himself and got killed by Mark. So in this situation. Mark is an accomplice to murder.

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3 years ago
How many sessions are there within each term of congress?
Artyom0805 [142]

Answer: There are 2 session

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Hi hurry pls :,)<br> in a short paragraph explain how case law and statutory law are interrelated.
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Case law is the body of prior decisions and precedents that have accumulated over time. Statutory law is made up of statutes, which are formal written laws/codes made by legislators.

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2 years ago
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