What is an express contract? A contract that is written down. A contract that is not legally binding. A contract that is implied by the actions of the parties.
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Q2. What is an express contract?
- A contract that is written down.
- A contract that is not legally binding.
- A contract that is implied by the actions of the parties.
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- Decide whether that sentence is true or false? The validity of the contract completely depends on the form of contract. Contract for the benefit of a third party is a contract which is concluded by three parties and the third party shall enjoy benefits from the performance of such obligations; Time of entry into civil contract shall be the time when the offeree‘s letter of acceptance was posted In cases where a third party refuses to enjoy its benefits from a contract for the benefits of a third party, the contract shall still take effect toward the contracting parties. When the individual entering into the contract dies, such contract shall terminate, unless otherwise agreed upon by parties. When the object of the contract does not longer exist, it does not lead to the termination of the contract, unless the object of the contract is a distinctive object. A pledge of property shall take effect as from the time at which the last party signs the document of pledge of…True or False Alexis makes an oral promise to Roberto that she will prepare a 4-course meal for twenty people, for $800 total, and bring it over to Roberto’s house at 5 pm Saturday October 17, 2020, just before Roberto’s party (it begins at 6 pm). Roberto orally promises to pay Alexis $400 on Thursday, October 15, and the balance of $400 one week later - on Thursday, October 22. These oral promises are binding on both sides as a contract.Why the contract can lower transaction costs?
- q 39. Suppose that the marginal benefit of writing a contract is $400 and the marginal cost of that contract is $400. Based on this information, the optimal contract length should be a. increased by half. b. decreased. c. increased by two-thirds. d. held constant at the contract length where MB 400 and MC 400.Forward contracts are: a. Contracts usually involving the exchange of a commodity or financial instrument. b. Easily resold c. Always standardized d. An agreement between more than two partiesDonovan would like to build a game room in his basement but does not want to take a loan. He opens an account and deposits his sign-on bonus of $15,000 into it. If he plans on saving $50 at the end of each week for the next three years, what is the highest price that he can pay to build the game room?
- A producer holding a commodity is said to be _______________ and could hedge by going __________ a futures contract a. Long long b. Long short c. Short short d. Short longQuestion 24 A medium of exchange is: an asset that can be used to transport purchasing power from one period of time to another the ability to buy something today but defer payment to the future a standard unit that provides a consistent way of comparing prices. what sellers generally accept and buyers generally use to pay for goods and servicesFinancial institutions such as banks pays lower interest rates to depositors and charge higher interest rates to borrowers. *True or False