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Delicious77 [7]
3 years ago
15

If contracting parties attach materially different meanings to a contract word or term subject to more than one reasonable inter

pretation, the contract is void. a. True b. False
Business
1 answer:
emmainna [20.7K]3 years ago
5 0

Answer:

True

Explanation:

A contract is a professional document with the set of guidelines and regulations for a business when there is a partnership between two or more people, and that should be a parameter instrument for the effectiveness of a business and compliance with the current legislation.

Every contract must be drafted in a clear and objective manner, with equal rights and obligations for all members and in such a way as not to give scope for different interpretations or clauses that benefit someone. Therefore, it is correct to state that if the contracting parties assign different meanings to words or a contractual term that gives rise to more than one interpretation, the contract will be void.

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Vgfyhh6yh6h6hyhyhtvg6ybgy6hy6
Liono4ka [1.6K]

Yes, vgfyhh6yh6h6hyhyhtvg6ybgy6hy6 is correct!

7 0
3 years ago
Read 2 more answers
You want to have $5 million in real dollars in an account when you retire in 40 years. The nominal return on your investment is
motikmotik

Answer: $18,128.27

Explanation:

Real interest rate = [( 1 + Nominal rate ) / ( 1 + inflation rate)] - 1

= [(1 + 13%) / ( 1 + 4.4%) ] - 1

= 8.2375478927203065134%

This is dealing with the future value of an annuity where $5,000,000 is that future value.

Future Value of an annuity = Amount * {[((1 + r )^n) - 1] / r}

5,000,000 = Amount * {[((1 + 8.2375478927203065134%% )^ 40) - 1] / 8.2375478927203065134%}

5,000,000 = Amount * 275.81229325572622843153903061969

Amount = 5,000,000/275.81229325572622843153903061969

= $18,128.27

7 0
3 years ago
Jeffrey works as an independent contractor for an accounting firm jointly owned and managed by the Matthews brothers. Which of t
lions [1.4K]

Answer:

The correct answer is letter "A": Jeffrey will be solely responsible for making payments for his Social Security (FICA).

Explanation:

Independent contractors act like third party services working for an entity to render services for specific jobs. Independent contractors are not employees of the company who hires them for the job which implies the independent contractors are fully responsible for the payment of their own Social Security and Medicare taxes.

8 0
3 years ago
Select the most likely outcome of making only on-time minimum payments to a credit
Gennadij [26K]

The answer is <u>"B. Your payments will have gone mostly towards paying interest and you will still owe the majority of the balance that you had from a year ago."</u>


At the point when this happen your profile would be appear as monetarily hazardous by other money related foundation in the market.  

This would make your credit score to tumble down, and would make it extremely hard for you to acquire some other type of advance later on.  

When you make just the minimum installment on your credit card, you're giving yourself impermanent help. But on the other hand you're focusing on paying more in intrigue charges later. That exchange off can get you into genuine budgetary inconvenience after some time, particularly if your card charges a high interest rate.

3 0
4 years ago
Read 2 more answers
Madison Company owned an asset that had cost $44,000. The company sold the asset on January 1, 2016 for $16,000. Accumulated dep
BlackZzzverrR [31]

Answer:

A. A $16,000 cash inflow in the investing activities section of the cash flow statement.

Explanation:

The gain on sale of asset is,

Gain on disposal = Selling price - Net Book value of asset

Gain on disposal = 16000 - (44000 - 32000) = $4000

However, this gain is a non cash item as it is only reported on the books and there is no cash inflow or outflow that relates to this gain. Thus, option C and D become invalid as there is no cash related to this disposal gain as it is merely a book item.

A sale of asset doesnot increase but rather decrease total assets so option B become invalid. The correct answer is A as the asset is being sold for 16000 thus a cash inflow of 16000 is taking place.

3 0
3 years ago
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