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lora16 [44]
3 years ago
11

You are an adult friend of a sixty-five year old male, James, who lives next door. James is friendly and kind to you and your fa

mily. James has become increasingly forgetful of facts and names lately and you once found him lost in another part of your familiar neighborhood. On the other hand, James has significant periods of mental clarity, living independently and performing complex mental tasks. For example, he profitably buys and sells collectibles at flea markets and on the Internet. James's family lives far away, and may not know that James is possibly showing early signs of mental instability. You know that a court can determine if someone is mentally incompetent and appoint a guardian to represent that individual. Only then can the guardian enter into binding legal obligations on behalf of the mentally incompetent person.
Required:
From the perspective of contractual legal capacity, explain the advantages and drawbacks of declaring someone like James incompetent.
Business
1 answer:
serious [3.7K]3 years ago
3 0

Answer:

Advantages of declaring James incompetent:

  • James will have someone taking care of him permanently.
  • Since James lives alone, it will not cause stress on his family.
  • Court will appoint a person to manage and handle James' assets through a power of attorney.  

Disadvantages of declaring James incompetent:

  • James will lose control of his assets and his business might decline.
  • He might be psychologically affected even more and his condition could get worse.
  • After a while, his legal guardian might want to change his mind because taking care of someone else might become a problem.
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The duty of professional support services is to collect relevant data from company operations, processing that data, and provide instructions or advice for the front liners on how to use that data to their advantage.

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3 years ago
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What is the difference between carriage forward and carriage paid?
USPshnik [31]

Answer: carriage forward means delivery is being laid by the buyer. Carriage paid means delivery is paid by the seller.

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2 years ago
In year T, a US citizen buys 100 shares of Sonic on the Tokyo stock exchange at 700 yens each. Suppose the exchange rate then is
zlopas [31]

Answer:

Change in US external wealth between periods T and T +1 in dollars = -$100

Explanation:

Since nothing else changes, this implies that the exchange rate per yen is $0.01 in periods T and T +1. Therefore, we have:

Value shares of Sonic in period T in dollar = Number of shares of Sonic bought in period T * Price per share of Sonic in Yen in period T * Exchange rate per yen in periods T = 100 * 700 * $0.01 = $700

Value shares of Sonic in period T+1 in dollar = Number of shares of Sonic in period T+1 * Price per share of Sonic in Yen in period T+1 * Exchange rate per yen in period T+1 = 100 * 600 * $0.01 = $600

Change in US external wealth between periods T and T +1 in dollars = Value shares of Sonic in period T+1 in dollar - Value shares of Sonic in period T in dollar = $600 - $700 = -$100

4 0
3 years ago
Avicorp has a $15.5 million debt issue outstanding, with a 6.3% coupon rate. The debt has semi-annual coupons, the next coupon i
Studentka2010 [4]

Answer:

a) Pre-tax cost of debt is 8.45%

b) After tax cost of debt is 5.07%

Explanation:

a) Given:

Debt issue outstanding = $15.5 million

Semi-annual coupon rate = 0.063 / 2 = 0.0315

Assumed par value (FV) = $1,000

Coupon payment (pmt) = 0.0315 × 1000 = $31.5

Current bond price (PV) = 92% of $1,000 = $920

Time period (nper) = 5 × 2 = 10 periods

Calculate semi-annual rate using  spreadsheet function =Rate(nper,pmt,PV,FV)

Semi-annual rate = 4.14%

Pmt and FV are negative as they are cash outflows.

YTM = 4.14 × 2 = 8.28%

Effective annual rate = (1+\frac{Rate}{compounding\ periods}) ^{2} -1

                                   = (1+\frac{0.0828}{2}) ^{2} -1

                                   = 0.0845 or 8.45%

b) Tax rate is 40%

After tax cost of debt = Pre tax cost of debt × (1 - 0.4)

                                    = 0.0845 × 0.6

                                    = 0.0507 or 5.07%

4 0
3 years ago
The faster economic growth​ is, the A. farther the production possibilities curve shifts out. B. steeper the slope of the produc
AleksandrR [38]

Answer:

The correct answer is option A.

Explanation:

A production possibility curve shows the maximum possible combination of two goods that can be produced using all the available resources and state of technology.

An increase in economic growth causes the production possibility curve to shift to the right. The faster the economic growth the more the economy will be able to produce. So the farther the production possibilities curve will shift out.

6 0
3 years ago
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