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.
C. Unclear definitions of goals
Any professional and efficient team will of course want clear definitions of their goals to run well.
Answer: To be eligible for partial benefits, you must work at least 80% of the hours required for the employment. If you worked a 40-hour week, for example, you won't be eligible for benefits if you work more than 32 hours.
Explanation: See above.
Have a good day.
Answer:
The worth of the contract today = $3,480,817.37
Explanation:
To determine the worth of the contract today,
We will work out the present value of each of the expected future cash cash payment at a discount rate rate of 8.7% and sum them.
The present valus of the payments indicate how much they worth today if the ST Trucking can invest at a rate of 8.7% per annum
This is done as follows:
PV = 1,100,00× (1.087)^(-0) + (1,300,000 × (1.087)^(-1) + (1400000 ×(1.087)^(-2)
PV = 1,100,000 + 1,195,952.2 + 1,184,865.2
= $3,480,817.37
The worth of the contract today = $3,480,817.37
