Answer: Yes,it is legal and or ethical to allow Tommy to escape his contractual obligations.
Explanation:
A contract is an agreement made between two or more persons which the court of law can enforced. Under the law of contract, one of the essential elements of a valid contract is capacity, which states that a person must be of legal age before such a person can enter into a contract. For example a legal age is 18 years. In a law of contract any contract enter into with a minor is null and void according to the law. The exception to this rule is when a minor enter into a contract for the supply of necessity such as food and clothing. It is evidence that Tommy McCartney is 16 years old as at the time of entering into the contract for the purchase of the car from the store. In this case, by virtue of being a minor he does not have the backing of the law to enter into the contract for the purchase of the car from the store as at the time he does so.
Therefore, based on this legal point ,the contract is voidable.Tommy money must be returned to him because the contract between him and the store is null and void.It is therefore legal to allow Tommy to escape his contractual obligations
If an employee within an employee entity has a relationship with itself, that relationship is known as a: <u>Recursive</u>
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<h3>What is recursive relationship?</h3>
Recursive relationships, which reflect the possibility of one firm owning another, are non-identifying relationships between two entities or tables. The parent entity or table and the child entity or table are identical in this kind of relationship. These two varieties of recursive relationships are possible to develop:
Hierarchical Recursive or (single-table recursion). A parent entity or table can have any number of children in this kind of relationship, but a child can only have one parent.
Network Recursive or (double-table recursion. A parent entity or table can have any number of children in this kind of relationship, and a child can have any number of parents.
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power of sale clause
What is borrower defaults?
Any default under or breach of any such agreement or instrument is referred to as a borrower default. This includes any default or event of default as defined in any agreement or instrument evidencing, governing, or issued in connection with lender Indebtedness, including but not limited to the Credit Agreement. Any situation or event that, upon giving notice, passing of time, or both, would, unless corrected or waived, become a borrower event of default is referred to as a borrower default. If the borrower fails to pay back any advances when they are due or if legal action is taken to appoint a receiver, trustee, liquidator, or custodian of the borrower or of all or a major portion of it, a borrower default is said to have taken place.
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Trial balance is used to see the accurate of the balancing of ledgers. if there is an error in the trial balance a temporary account known as the suspense account can be opened