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Dimas [21]
3 years ago
12

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

Business
1 answer:
Brrunno [24]3 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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3241004551 [841]

Answer: While not usual they can be held responsible for all business debts.

Explanation: If you pledge a asset as a collateral a creditor may be able to take said asset and sell it.

3 0
2 years ago
( ____/10) Economic Growth a. Define GDP, identify what is not included, define the four components, and give an example of each
Harlamova29_29 [7]

Answer: Gross domestic product (GDP) is the monetary value of the market value of all final goods and services produced in a country at a specific time period.

Explanation:

Economic growth is the increase in the total output of goods and services in the economy.

Gross domestic product (GDP) is the monetary value of the market value of all final goods and services produced in a country at a specific time period. The four components of the gross domestic product (GDP) are personal consumption, business investment, government spending, and net exports (difference between export and import)

GDP = C + I + G + (X - M).

where C = consumption

I = investment

G = government expenditure

(X - M) = Net Export

The items not included in the are

1. Sales of goods produced outside the domestic borders of a country.

2. Sales of used goods.

3. Black market i.e. the illegal sales of goods and services.

4. Intermediate goods.

Nominal GDP is measure of the monetary value of all the final goods and services that are produced within a country at current market prices while Real GDP is the measure of a country’s output using the value of its goods and services, investments, government spending and exports. Real GDP is the nominal GDP and adjustment in inflation or deflation.

For example, if nominal GDP is $120,000 and the deflator is 1.4. Calculate Real GDP.

Real GDP = Nominal GDP / Deflator

= 120000 / 1.4

= $ 85714.29

7 0
3 years ago
A decrease in energy prices will: decrease short-run aggregate supply. increase short-run aggregate supply. decrease aggregate d
Alex73 [517]

Answer:

increase short-run aggregate supply.

Explanation:

Given that energy is an important part of the production process. It is often considered to be the next in line after labor, thereby having a significant effect on the economy's aggregate supply of real production.

Hence, a decrease in energy prices will decrease the production cost and in turn lead to an increase in short-run aggregate supply, thereby making the SRAS curve shift rightward.

This is because a decrease in energy prices will make it possible for companies to increase their supply of real production at a cheaper cost

7 0
2 years ago
Firms pursuing global standardization or transnational strategies tend to prefer _____ arrangements.
astra-53 [7]

Wholly owned subsidiary arrangements are preferred by firms which pursue global standardization or transnational strategies.

This arrangement gives a firm an advantage since it is able to use profits from one market to improve its position in another competitive market.

Another few advantages of wholly owned subsidiary arrangements are tax benefits, limited liability, promotes diversification.

Learn more about wholly owned subsidiary arrangements here:

https://brainly.in/question/8819903

#SPJ4

8 0
1 year ago
This Government Representative is appointed by the Contracting Officer to serve as a technical liaison between the Government an
Alex Ar [27]

Answer:

Contracting Officer Representative

Explanation:

  • An agent of a contracting officer is a person appointed in compliance with the subdivision of DFARS .and approved by the contracting agency in law to automate repetitive technological or essential functions.
  • A security officer is a man who shares information to interact and coordinate their events between two organizations.

by these process COR work.

3 0
3 years ago
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