An agreement between Jim and his 18-year-old daughter, Betty, provides that he will give her $25,000 if she does not marry until
after her 22nd birthday. One month after reaching the age of 22, Betty, still unmarried, claims the $25,000. Jim refuses to pay, claiming that the agreement was illegal. Is Jim correct
Generally, the law encourages marriage as its policy. If there is any contract that prevent or restrict marriage in whatever way, such contract would be considered null and void because it is against the public policy.
Despite the above, contracts will be generally considered valid when they place reasonable restrictions on marriage. In this question, the restriction placed on Betty that she should get married until after her 22nd birthday is reasonable and has to be considered to be valid. Based on this, Betty has to be paid the $25,000 as laid down in the binding contract between the two parties.
The given statement stands as true about inelasticproducts.
Products that are inelastic must often have reliable backups. Serviceability, conventional medicines, and cigarette products are the most frequently encountered goods with inelastic demand. Businesses that sell comparable goods have less price rigidity since demand is constant regardless of price changes.
The term "inelastic" refers to a good or service's static volume when its price varies.
False or true Whether a tax is imposed on purchasers or sellers, the cost is shared unless demand is absolutely elastic or perfectly inelastic.
True, for the following reason: Buyers pay the entire tax when demand is perfectly inelastic.
Career portfolio can be regarded as digital display of one's professional experience as well as accomplishments. It is usually used in planning, organizing as well as documentation of Educational, skills and work sample. It can be used when applying for jobs and training programs. It gives in-depth information compare to than a resume. It should be noted that Career Portfolio is Collection of projects, reports, exams, awards and other evidence of past experience and accomplishments which may serve as a summary of an individual’s interests and abilities and give a viewer an in-depth understanding of the individual’s personality and creativity.
The functional area that will be responsible for securing the necessary funding for the expansion is the finance department.
The finance department refers to the department in an organization which is responsible for funds acquisition, funds management and planning for the expenditures on assets.
Since the company is expanding operations by building another facility in Canada, the finance department will provide the funds.
