1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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.

You might be interested in
Jeri and Knute are members of Lighthouse Tours LLC, a limited liability company. With respect to Lighthouse Tours’s liability, a
slava [35]

Answer:

Personal liability

Explanation:

Jeri and Knute are shareholders in lighthouse tours LLC. As lighthouse tours LLC is a limited liability company, Jeri and Knute enjoy limited liability.

Legally, lighthouses LLC is independent of its shareholders. It has the right to own assets and incur liabilities. Should the company get to the dissolution stage, its assets will be used to settle its obligations. If the assets of the company are not sufficient, the shareholders' private properties cannot be used to pay the debts.  Jeri and Knute will be liable only to the extent of capital contribution.  

8 0
2 years ago
When the price level in the united states falls relative to theprice level of other countries, ________ will fall, ________ will
Rufina [12.5K]
When the price level in the United States fall relative to the price level of other countries, IMPORTS will fall, EXPORTS will rise and NET EXPORTS will rise. 
When the price level of the United state is lower than that of another country, the amount of goods that will be brought from another country into US will be reduced while the amount of goods that US send to other countries will increase.
6 0
3 years ago
You are selling a product in an area where 30 % of the people live in the city and the rest live in the suburbs. Currently 20 %
irina1246 [14]

Answer:

a). I would adopt the increase in market share in the suburbs by 15 % since the number of final suburbs dwellers who will use my product is (0.0805 x) which is  greater than final city dwellers' (0.075 x)

b). The total percentage of people who are city dwellers who own your product before the new sales drive=46.15%

Explanation:

a). We can make the following expressions;

Total number of both city dwellers and suburb dwellers=x

City dwellers=30% of x=(30/100)×x=0.3 x

Suburb dweller=70% of x=(70/100)×x=0.7 x

Total number of city dwellers who use your product initially=(20/100)×0.3 x=0.06 x

Total number of suburb dwellers who use your product initially=(10/100)×0.7 x=0.07 x

If we increase the market share in the suburbs by 15%

Number of suburb dwellers=0.07 x+(15/100)×0.07 x

Number of suburb dwellers=(0.07 x+0.0105 x)=0.0805 x

If we increase market share in the city by 25%

Number of city dwellers=0.06 x+(25/100)×0.06 x

Number of city dwellers=(0.06 x+0.015 x)=0.075 x

I would adopt the increase in market share in the suburbs by 15 % since the number of final suburbs dwellers who will use my product is (0.0805 x) which is  greater than final city dwellers' (0.075 x)

b). Percentage of city dwellers that own your product

Percentage=(Initial number of city dwellers/Total number of people)×100

Percentage=0.06 x/(0.06 x+0.07 x)=(0.06 x/0.13 x)×100=46.15%

The total percentage of people who are city dwellers who own your product before the new sales drive=46.15%

8 0
3 years ago
You run a manufacturing facility that makes roller skates. Fixed monthly cost is $50,000 in mortgage, $3,000 per employee on ave
Marysya12 [62]

Answer:

At producing 14,286 skates

Explanation:

3 0
3 years ago
If information processing was perfect, many studies conclude that individuals would tend to make __________ decisions using that
blondinia [14]

Answer: a. less than fully rational; behavioral biases

Explanation:  Information processing errors consist of forecasting errors , overconfidence  and conservatism which can lead investors to misestimate the true probabilities of possible events or associated rates of return; and assuming information processing was perfect, individuals would tend to less-than-fully rational decisions due to behavioral biases as confirmed by several studies.

4 0
3 years ago
Other questions:
  • Wire rope rigging equipment slings must have the ability to bend without cracking, withstand abrasive wear, and withstand abuse.
    12·2 answers
  • Which of the following statements is true?a. The higher the maturity risk premium, the higher the probability that the yield cur
    8·1 answer
  • Pattison Corporation is a service company that measures its output by the number of customers served. The company has provided t
    11·1 answer
  • Stock and bond markets:
    5·1 answer
  • On a 100-acre farm, a farmer is able to produce 3,000 bushels of wheat when he hires 2 workers. He is able to produce 4,400 bush
    6·1 answer
  • In a small, closed economy, national income (GDP) is $ 400.00 million for the current quarter. Individuals have spent $ 150.00 m
    13·1 answer
  • CHECKPOINT QUESTION
    15·1 answer
  • Assuming the total population is 100 million, the civilian labor force is 50 million, and 44 million workers are employed, the u
    5·1 answer
  • The YTM on a 2 year zero coupon bond is 5% and the YTM on a 1 year zero coupon bond is 3%. What does the no-arbitrage condition
    12·1 answer
  • Whenever price is ______ average variable costs but is ______ average total costs, the firm can pay part, but not all, its fixed
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!