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stiv31 [10]
3 years ago
12

Ben hired Lewis to drive his car in a race. Tuan, a friend of Lewis, promised to pay Lewis $3,000 if he won the race. Lewis won

the race, but Tuan refused to pay the $3,000. Tuan contended that no legally binding contract had been formed because he had received no consideration from Lewis for his promise to pay the $3,000. Lewis sued Tuan for breach of contract, arguing that winning the race was the consideration given in exchange for Tuan’s promise to pay the $3,000. What rule of law discussed in this chapter supports Tuan’s claim? Explain.
Business
1 answer:
qaws [65]3 years ago
8 0

Answer:

Consideration contract.

Explanation:

Consideration is basically the fact that Lewis never offered something in consideration to Tuan for his offer to pay the $3,000, this means that both parties need to have a benefit from the agreement and both should have a detriment, if only one party has a benefit that is considered a gift, and the law can´t force someone to gift something. This is why Tuan claim is correct and he isn´t forced to pay the $3,000 to Lewis.

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The revenue recognition principle guides accountants in​ ________.
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The revenue recognition principle guides accountants in​ Answer: D determine when to record revenues. The revenue recognition principle lets accountants know when they need to record revenues and at what amount to record. The revenue recognition principle states not to record revenue until it has been earned in full.

3 0
3 years ago
A local charity has been given a grant to serve free meals to the homeless in its community, but it is worried that its program
Elis [28]
Homeless: 
10 – t^2 /320 > 0
10 > t^2 /320
3200 > t^2 
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10 – t^2 /160 > 0
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Wait time would have to be at least 40 minutes to prevent college students from waiting.
6 0
3 years ago
Heather's interest and gains on investments for the current year are as follows:
Leviafan [203]

Answer:

c. $1,400

Explanation:

Gross income

= Interest on U.S. government bonds + Interest on a Federal income tax refund  + Gain on the sale of Madison County school bonds  

= $700 + $200 + $500

= $1,400

Therefore, Heather must report gross income in the amount of $1,400.

5 0
3 years ago
You work on the marketing team for a software development company. You have sales representatives in different locations around
seropon [69]

Answer:

b. a wiki

Explanation:

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This tool would be essential for the marketing team with global sales representatives, because through it it would be possible to demonstrate the new resources through the sharing of information and exclusive materials made available through the wiki that can be accessed from any location and at any time.

4 0
3 years ago
During 2020, Leisel, a single taxpayer, operates a sole proprietorship in which she materially participates. Her proprietorship
spayn [35]

Answer:

i think it is $98,602

Explanation:

6 0
2 years ago
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