Answer:
The correct answers are: 1. voidable, 2. capacity, 3. consent
Explanation:
For a contract to be legally valid, the concurrence of three essential requirements or elements is required, which are: the consent of the contracting parties, the true object that is the subject of the contract and the cause of the obligation to be established.
The consent is the manifestation of will of the parties, consisting of the concurrence of the offer and its acceptance, on the object and the cause of the contract. Any consent given by error, violence, intimidation or intent is void.
The purpose of the employment contract is the provision of paid services for others. Services contrary to laws or good customs, nor those that are outside the trade of men, cannot be subject to the contract.
Example: The provision of prostitution or drug trafficking services cannot be the subject of the employment contract.
Answer:
b. $20,000: $250,000
Explanation:
The computation is shown below:
The passive activity rules at the opening of 2021 would be equivalent to the amount given i.e. $250,000
And, the suspended amount would be
= $100,000 + $80,000 + $90,000 - $250,000
= $270,000 - $250,000
= $20,000
Hence, the correct option is b.
The method portion of your research paper.
Yes, this can happen if a company is growing very quickly or their spending is high.
Answer:
Farmer and Taylor's respective shares are $102,500 and $32,500
Explanation:
For computing their respective shares, first we have to calculate the remaining income of each partner is shown below:
Remaining income = Net income - received amount
= $135,000 - $70,000
= $65,000
It will be divided equally in 1:1 ratio
So, the remaining income would be
Farmer = $32,500
Taylor = $32,500
Now, Their shares would be
Farmer = Salary received + his share of income
= $70,000 + $32,500
= $102,500
And, for Taylor it would be $32,500
