Answer: b) this is a private law issue regarding contract law
Explanation: Private law is the law and regulation that is present individuals and has no relation with the government. Contract law states about the law that contains the agreement rules and regulations for binding individual through it.
The situation mentioned in the question about Kate and Micheal states about the problem of private law that is related with contract law. In their situation the private law was made for selling the house of Kate to Micheal.But Kate is refusing to perform transaction process which is raising the issue in the contract law. As per the contract agreement Kate should sell the house to Micheal and by denying to do so , she is creating the issue.
Other options are incorrect because it does not consider government rules so it cannot be a public law.It cannot be substantive law as civil society's regulation and rules are not required in given situation
Criminal law is not related with the situation as crime activity is not involved and tort law is not defined as civil laws are not broken .Thus, the correct option is option(b).
Every cooperative board of directors is charged with both protecting and utilizing the resources of the cooperative for its members. This simply stated prime directive is far from a simple task.
Balancing the needs of the member with the needs of the cooperative’s balance sheet is a tricky proposition at best. Establishing margins to cover actual costs along with additional net savings that will allow for future growth of services can be difficult, but past performance – together with reasonable expectations and realistic optimism – should drive financial projections.
With the help of the cooperative’s management, boards develop and approve business plans that will meet the organization’s goals. Most planning cycles are conducted annually, creating a budget that anticipates surpluses. New projects offering better services or products are financed along with long-term financing, either with new injections of capital or long-term borrowings. Unrealistic long-term financing projections can seriously interrupt the monthly and daily operations of a cooperative, therefore, understanding how current assets and liability affect the cash to cash cycle is a critical piece of knowledge that any board member needs. Current assets consist of cash, inventories and accounts receivable. Current liabilities include accounts payable for goods and services and the current portion of long or immediate term debt.
The answer would be : C . the Judiciary
The Judiciary is a government branch that have these following function/duties :
- Interpreting the laws
- Settling Legal Disputes
- Determining the guilt or innocence of the people who have been accused of breaking the law
