1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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.

You might be interested in
MC Qu. 98 At the beginning of the recent... At the beginning of the recent period, there were 1,470 units of product in a depart
agasfer [191]

Answer:

Using the weighted average method, the equivalent units produced by the department were:

= 8,760 units.

Explanation:

a) Data and Calculations:

                                         Units    Conversion  

 Ending inventory             1,560

Units completed             8,370

Units available                9,930

Beginning inventory        1,470         35%

Additional units started 8,460

Equivalent units of production:

Units completed            8,370         8,370 (100%)

Ending inventory           1,560            390 (25%)

Equivalent units of production       8,760

4 0
3 years ago
What Acts of Parliament govern the operation of incorporated not-for-profit organisations?
guapka [62]

Answer:The Australian Charities and Not-for-profits Commission Act 2012 (ACNC Act) governs eligibility of a not-for-profit entity to be registered as a charity for federal purposes, and establishes governance standards and reporting requirements for registered organizations

WARNING: I am not sure I am right

Explanation:

3 0
3 years ago
Cyclical unemployment refers to A. the portion of unemployment created by job search. B. the portion of unemployment created by
myrzilka [38]

Answer:

i pretty sure its c but if it wrong just let me know

Explanation:

it pretty much makes sence

can i get brainlest

6 0
3 years ago
A resource-based strategy Multiple choice question. focuses on efficient execution of both primary and supporting components of
ki77a [65]

Answer:

can be achieved by exploiting resources that are competitively valuable, rare, and hard to imitate by rivals

Explanation:

A resource-based strategy is a form of the technique used by business managers to efficiently utilized the existing and valuable resources of the firm. These resources would be difficult to come by for the competitors such that it is hard for competitors to replicate. Thereby leading a sustainable or long term competitive advantage to the firm

Hence, in this case, the correct answer is A resource-based strategy "can be achieved by exploiting resources that are competitively valuable, rare, and hard to imitate by rivals."

5 0
2 years ago
Behavioral economistsLOADING... attribute some consumer behavior to the endowment effect. Which of the following is an example o
mestny [16]

Answer:  Option C

Explanation: As per the subject matter of behavioral economics, endowment effect refers top the phenomenon under which it is assumed that a rational individual will retain a commodity he or she already owns rather than acquiring the same commodity if he do not own it.

Hence from the above we can conclude that correct option is C as it states that one will not sell a painting even though at a price that the holder would pay to purchase it himself.  

   

6 0
3 years ago
Other questions:
  • Max murphey, a cash basis taxpayer, borrowed $10,000 from a bank for a business loan on august 1, to be repaid one year later. t
    5·1 answer
  • Item I51 is used in one of Policy Corporation's products. The company makes 20,800 units of this item each year. The company's A
    5·1 answer
  • According to Harvey MacKay, a goal is a dream with?
    15·2 answers
  • If you have an extremely "bullish" outlook on the stock market, you could attempt to maximize your rate of return by ___________
    7·1 answer
  • According to Maslow's hierarchy of needs theory, esteem needs:
    11·1 answer
  • In China during the 1950s, a group of collective farms, each of which contained more than 30,000 people who lived and worked tog
    9·1 answer
  • How can changes in technology or consumer demand make it difficult for people to get jobs?
    8·1 answer
  • The MC = P rule applies
    14·1 answer
  • CompuTop Company sells toy laptop computers for $30 each. If the variable cost for each laptop is $20 and fixed costs total $25,
    8·1 answer
  • What is marketing management?why is it important?​
    5·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!