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Dimas [21]
2 years ago
12

All of the following are true regarding implied agreements EXCEPT which one?

Business
1 answer:
Brrunno [24]2 years ago
4 0

Answer:

An implied agreement is based on a formal agreement.

Explanation:

A contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law.

There are different types of contract in business and these includes: fixed-price contract, cost-plus contract, bilateral contract, implied contract, unilateral contract, adhesion contract, unconscionable contract, option contract, express contract, executory contract, etc.

Mutual assent is a legal term which represents an agreement by both parties to a contract. When two parties to a contract both have an understanding of the parameters, terms and conditions surrounding a contract, it ultimately implies that they are in agreement; this is generally referred to as mutual assent.

Simply stated, mutual assent connotes agreement, acceptance and consent to a contract by both parties.

An implied contract can be defined as an informal contract that exists based on an assumption or understanding between two or more parties, rather than on terms that are formally and specifically defined.

This ultimately implies that, an implied agreement is not based on a formal agreement but on assumptions or understanding between the parties involved.

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True or false: A management contract is an arrangement in which one firm contracts with another to produce products to its speci
Nina [5.8K]

The statement which states that a management contract is an arrangement in which one firm contracts with another to <em>produce products</em> to its specifications is false

According to the given question, we are asked to show whether a management contract is one where there is an arrangement between two firms to <em>produce its goods </em>to its specifications.

As a result of this, we can see that a management contract is one where one firm gives its management skills <em>in part or in full</em> to another firm.

With this in mind, we can see that contract manufacturing is one where there is an arrangement in which one firm contracts with another to <em>produce products</em> to its specifications but is in charge of the marketing.

Therefore, the correct answer is false.

Read more here:

brainly.com/question/17440307

3 0
2 years ago
When most cars sold in the United States were produced by the Big Three auto companies, General Motors would announce its prices
photoshop1234 [79]

Answer: Price leadership    

Explanation: In simple words, under price leadership strategy the dominant firm in the industry sets the prices for their products in the first place and then after that the other competing firms sets their prices following that dominating firm.

In the given case, the general motors is practicing price leadership as they are setting the prices in the market initially which is then matched by other firms.

5 0
3 years ago
Match each certification to its purpose
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First one7,6,65,and last 3
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What makes zumiez different from its competitors
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soldier1979 [14.2K]

Answer:

Peridot should report net cash outflows from investing activities of $26 million

Explanation:

Prepare a Cash flow from Investing Activity Section as follows :

<u>Cash flow from Investing Activity  </u>

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Purchase of Machinery                                             (31)

Proceeds from Sale of land                                       92

Purchase of Office Equipment                                 (87)

Net Cash Flow from Investing Activities                 (26)

The Section only includes Activities relating to Capital Expenditure

3 0
3 years ago
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