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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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The older term, social service, referred to advancing human welfare. The new term, meaning to provide for the needs of various p
Mazyrski [523]

Answer:

Social welfare

Explanation:

The term <u><em>“social welfare”</em></u> does not have a precise definition. Currently, social welfare refers to a wide range of activities and services by volunteers, non-profit organizations and governmental agencies providing help to needy persons unable to care for themselves; activities and resources designed to enhance or promote the well-being of individuals, families and the larger society; and efforts to eliminate or reduce the incidence of social problems

8 0
3 years ago
Rough Hewn Lumber Company orally contracts with Joe for the purchase of five acres of Joe's timberland. Joe makes the transfer b
Reptile [31]

Answer:

b. quasi contract

Explanation:

-Liquidated damages refers to a mechanism in a contract in which a party can request a compensation because of breach.

-Quasi contract is  an agreement that is recognised by a court when there is no written contract between two parties and there is a conflict about a payment of a product or service.

-Reformation is a change made by a court in a document when one party that participates in it makes a request.

-Restitution is when someone receives a compensation for a loss or an injury.

According to the options given and the definitions, the answer is quasi contract.

7 0
3 years ago
Elite Stationary employs 20​ full-time employees and 10 trainees. Direct and indirect costs are applied on a professional​ labor
kolezko [41]

Answer:

Since cost per hour of full-time employees is $150, while cost per hour of trainees $27, clients using proportionately more​ full-time employees than trainees will​ <u>be under billed or charged for the resources or labor hour used</u>.

Explanation:

The data in the question are merged and they are first separated before answering the question as follows:

Details                                                  Budget                Actual

Indirect costs ​                                     $250,000 ​             $400,000

Annual salary of each employee ​     $200,000 ​             $250,000

Annual salary of each trainee ​             $40,000 ​               $45,000

Total professional​ labor-hours         ​40,000 dlh ​            50,000 dlh

In normal costing system, actual costs are used.

Therefore, labor hours for each category and cost per hour can be calculated as follows:

Full-time employees total labor hours = (20/30) * 50,000 = 33,333 hours

Each full-time employee annual labor hour = 33,333/20 = 1,667 hours

Cost per hour of full-time employees = $250,000/1,667 = $150 per hour

Trainee total labor hours = (10/30) * 50,000 =  16,667 hours

Each trainee annual labor hours = 16,667/10 = 1,667 hours

Cost per hour of trainees = $45,000/1,667 = $27 per hour

Since cost per hour of full-time employees is $150, while cost per hour of trainees $27, clients using proportionately more​ full-time employees than trainees will​ <u>be under billed or charged for the resources or labor hour used</u>.

5 0
3 years ago
If the government wishes to increase the level of real GDP, it might reduce: 
A. Taxes
B. Transfer payments
C. The size of the b
MArishka [77]

Answer: Option (A) is correct.

Explanation:

If the government wishes to increase the level of real GDP, it might reduce <u>Taxes.</u>

This is due to the fact that if government reduces the transfer payment, size of budget deficit or its purchases of goods and services then as a result the level of real GDP deceases because of lower aggregate demand for the product.

Now, if government reduces the taxes, this will increase the individual's disposable income. So, this will results in higher aggregate demand and hence, increases the level of real GDP.

4 0
3 years ago
Please list all technical and software knowledge and skills:
MAVERICK [17]
Technical skills and software skills are most important for jobs in the IT (Information Technology) sector. Some of the most wanted technical skills and knowledge are: coding and programming (some programming languages are Java, C, C++, Visual Basic, PHP, Python,...), project management (being able to lead and organize project, to delegate tasks and measuring the success of the project), big data analysis (being good at collecting, organizing and working with data), social media experience (experience and working in various social media platforms). 
4 0
3 years ago
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