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tigry1 [53]
2 years ago
9

Schwartz, Inc. is looking to hire one of the many outstanding students from the Management 212 class. On January 1, 2021, Schwar

tz, Inc. and Johnny enter into an oral employment contract where Johnny will begin work after his graduation in May 2021. The contract calls for Johnny to begin work on June 1, 2021 and work until February 28, 2022. Prior to Johnny's graduation day, Schwartz changes his mind and tells Johnny he will not be working at Schwartz, Inc. Schwartz decides that he can get a graduate from an Austin-based school at half the salary. Is this contract voidable by Schwartz, Inc. and explain why or why not?
Business
1 answer:
ch4aika [34]2 years ago
8 0

Answer:

Oral Employment Contract

We shall assume that Schwartz Inc. changed its mind some period before the May 2021 Johnny's graduation date.

We can argue that the contract is voidable by Schwartz because it was an oral contract.  The protections accorded a written contract are missing.  And the conditions for voiding the contract are not clearly enumerated as in a written contract.

The contract duration favors Johnny more than Schartz, Inc. because it is for a year and no more.

Therefore, since the employment contract is for a year, it is legally enforceable by Johnny.

Explanation:

But if Schwartz were to void the contract in May 2021 when no opportunity would be given to Johnny to enter into another contract immediately, we could conclude that to void the contract was unconscionable.  Contracts are not voidable with a change of mind, most especially if the other party would suffer some damages as result.  Contracts require legal reasons for voiding them.

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Answer:

Total $1,091.0030

Explanation:

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C 42.25   (1,000 face value x 8.45% /2 payment per year)

time 21 (10 years at 2 payment per year+ 1 payment)

rate 0.036   (here we use the YTM rate /2 because there are 2 payment per year)

42.25 \times \frac{1-(1+0.036)^{-21} }{0.036} = PV\\

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<u>Then, for the present value at maturity, we calculate the present value of a lump sum</u>

\frac{Maturity}{(1 + rate)^{time} } = PV  

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time   21.00

rate  0.036

\frac{1000}{(1 + 0.036)^{21} } = PV  

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PV m  $475.8227

Total $1,091.0030

8 0
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InSeason Inc. started a chain of organic supermarkets that had initial success. The managers achieved a mastery of the firm's cu
Hitman42 [59]

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Profit is only a liability for the business. Can you justify this?​
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A growing company may not be earning any profits yet, but may nevertheless provide a great investment opportunity.

Other times, a lack of profitability can be a huge red flag that something is wrong with the firm.

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Brian invests $11,500, at 6% interest, compounded semiannually for 2 years. Manually calculate the compound amount (in $) for hi
Katena32 [7]

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A company that uses a strategy of selling its products to a distributor in another country would be using.
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A company that uses a strategy of selling its products to a distributor in another country would be using <u>exporting.</u>

<u></u>

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Exports are products and services made in one nation and offered to customers in another. Imports and exports together make up global trade.

Because they give people and businesses access to a larger market for their products, exports are crucial to modern economies. Fostering economic commerce, and boosting exports and imports for the advantage of all trading parties, is one of the primary goals of diplomacy and foreign policy between countries.

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Learn more about export with the help of the given link:

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