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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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A trust established by your will that becomes effective upon your death is called a(n) ____________ trust.
olga2289 [7]

In most states, a will is often referred to as a "last will and testament". So any trust or transfer at death that involves will is said to be testamentary (from the testament). Choice B is a living trust - which doesn't involve death. Choices C and D can be made while a person is alive.

The answer here is A, a testamentary trust.


5 0
3 years ago
Chandler Tire Co. is trying to decide which one of two projects it should accept. Both projects have the same start-up costs. Pr
mojhsa [17]

Answer:

The second project should be chosen. Because the present value of the second project is greater than that of the first project.

Explanation:

The project that should be chosen can be determined by comparing the present value of both projects.

Present value is the cash flows from a project discounted at the discount rate.

Present value can be found using a financial calculator;

For project 1,

Cash flow each year from year one to six is  $52,000

Discount rate = 15%

Present value =$196,793.10

For project 2,

Cash flow each year from year one to eight is  $48,000

Discount rate = 15%

Present value =$215,391.43

The second project would be chosen because its present value is greater than that of the first project.

I hope my answer helps you

6 0
3 years ago
t's recommended that you join at least _______ professional membership(s) in your field to indicate that you're involved and ded
Inessa [10]

Answer:

The correct answer is letter "D": one.

Explanation:

After graduation from college, <em>young professionals should enroll in one professional program</em> at least so whenever they present their resume to companies, with their <em>memberships</em>, they show they are interested in following a path career in their field of study. This will let employers have an idea of the type of person they are dealing with and are likely to get the impression the young professional is taking the application seriously.

8 0
3 years ago
Solar Innovations Corporation bought a machine at the beginning of the year at a cost of $28,000. The estimated useful life was
jeyben [28]

Answer:

You get the highest net income in year 2 with  <u>Units-of-production  method.</u>

Explanation:

Schedule of depreciation expense, accumulated depreciation, and book value per year for the equipment under the three depreciation methods is attached.  

<u>Straight-line </u>

Depreciation expense 2nd year=$5.000=(Original Value -Residual Value)/Useful life

<u>Units-of-production </u>

Units of Production Rate=2.5=(Original Value -Residual Value)/estimated productive life

Depreciation expense 2nd year= 7250

<u> Double-declining-balance. </u>

Depreciation rate        20,00%        1/useful life *100

Depreciation expense 2nd year= 6720

Download xlsx
6 0
3 years ago
If you sell only one or just a few items your business is
GarryVolchara [31]

Answer:

selling half

Explanation:

because your not selling everything so not all

5 0
3 years ago
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