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Svetradugi [14.3K]
3 years ago
5

Francine must purchase $1,500 of coffee for her coffee cart business. Kevin agrees to loan Francine $1,500, accepting as collate

ral Francine’s cart. They put their agreement in writing and sign it. Francine keeps possession of the cart. Does Kevin have an enforceable security interest?
Business
1 answer:
yaroslaw [1]3 years ago
6 0

Answer:

Yes, Kevin has an enforceable security interest

Explanation:

Judging from the perception of simple contract, which is a legally binding contract on parties that have entered into it,for the contract to be legally enforceable the following conditions must be met.

There must be an agreement between parties involved,this is demonstrated by Kevin offering to loan Francine $1500, which was met the latter's acceptance.

Consideration is when both parties promises to give something of value in exchange for value received, which is also satisfied in this case,as Francine promises to return $1500 in exchange for same amount borrowed and by extension Kevin has right to repossess the cart.

Lastly, both parties intended to create legally enforceable relations as well the fact that they are both capable (of age) and the transaction entered is legal in law parlance.

In conclusion, the above points show that Kevin has an enforceable security interest.

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In the job performance formula Performance=M+A+E, what does M stand for?
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<u>Answer: </u>Motivation

<u>Explanation:</u>

In the job performance formula M stands for motivation, A for Ability and skills E for Environmental obstacles. When the company's performance is stable over time because of the employee's performance then the employee's will be rewarded with huge incentives.

This model where Performance=M+A+E it denotes that the compensation benefits does not change the employee behavior towards his performance . Only these three factors determine his performance behavior. When these three factors are not met in enough then it reflects in inefficient performance of the employee.

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3 years ago
Ball bearings,inc. faces costs of production as follows:
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3 years ago
1. A Letter of Credit (or LC) is one of the major pillars on which International Trade stands.
Marat540 [252]

Answer:

Letter of Credit (LC)

a) Mbo Limited's bank can issue a letter of credit to Tiffany Anderson Group Ltd.'s bank a credit guarantee by which Mbo's bank guarantees that Mbo Limited will settle Tiffany Anderson Group Ltd in full for the amount involved in their trade relationship.  It is usually used by importers and exporters to settle trade credit.  It is the most acceptable means of settling debts across national boundaries.

b) A diagram is attached.  The procedures are detailed below:

A. A Sales Contract is established between the seller (exporter) and the buyer(importer).

B. The importer makes a request to its bank for issuance of letter of credit.

C. The importer’s bank issues a letter of credit to the exporter’s bank.

D. The exporter’s bank advises on the letter of credit to the exporter.

E. The exporter presents export documents (bill of lading and invoice) to its bank.

F. The exporter’s bank delivers the documents to the importer’s bank.

G. The importer’s bank debits the account of the importer for the stated amount after confirming that the documents are in order.

H. The importer’s bank pays the purchase price to the exporter’s bank.

I. The exporter’s bank credits the exporter’s bank to show payment.  This ends the transaction.

c. The letter of credit guarantees both the Mbo Limited and Tiffany Anderson Group Ltd.  It guarantees and ensures that payment for goods are not paid to Tiffany Anderson Group Ltd until there is evidence that the correct goods and quantity have been shipped by Tiffany Anderson Group Ltd (through the bill of lading).  It also assures Tiffany Anderson Group Ltd of payment for shipped goods since the documents cannot be released to Mbo Limited unless Mbo Limited's account had been debited and the money transmitted to Tiffany Anderson Group Ltd through its bank.

Explanation:

As above.

Download docx
5 0
3 years ago
According to current intellectual property regulation, which of these scenarios would be considered a violation? a. You reprint
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Answer:

c. You cite large chunks of an article published on Wikipedia on your online news site without offering financial compensation

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Patents.

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Copyrights.

The answer to the above question will be C, as the work belongs to wikipedia and they are entitled to compensation if there work is to be used in large quantities

c. You cite large chunks of an article published on Wikipedia on your online news site without offering financial compensation

3 0
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