judy agrees to buy milton minor's car. miltonnis 15 years old, judy is 37 years old...
Homework Answers
Enforcing Contracts with Minors
If you are entering into a contract with a Minor that is commercial in nature and not a contract for necessities or beneficial services, the contract and your rights will generally not be enforceable if the Minor chooses to renege on the agreement. To safe guard yourself in these circumstances you could consider obtaining the signature of a guarantor on behalf of the Minor when entering into the agreement. If the Minor reneges on the contract, you may not have enforceable rights against them but you will have enforceable rights against the guarantor.
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judy agrees to buy milton minor's car. miltonnis 15 years old, judy
is 37 years old...
John, age 35, buys a car from Marty, age 16. John can legally enforce the contract...
John, age 35, buys a car from Marty, age 16. John can legally enforce the contract but Marty cannot True False Question 10 (5 points) Tom and Ray, both adults, agree verbally that Tom will buy Ray's car for $2.000. Both Tom and Ray know that Tom stole the car. Ray can legally enforce this contract. True False Question 11 (5 points) John makes a fist and swings it next to Mary's head pretending to strike her. Mary faints. Mary...
Interview Notes Please answer questions 6 - 7. Judy Young is 58 years old. Judy is...
Interview Notes Please answer questions 6 - 7. Judy Young is 58 years old. Judy is single, is not disabled, and has no dependents. In 2018, she had earnings from her job of $24,300. Judy has participated in her employer's self-only HDHP coverage since June 1, 2018 when she started a new job. Judy was an eligible individual all year. Judy asked the HSA trustee from her previous job to rollover the balance of $2,000 into the HSA at her...
Mary threatens Doug with a $50,000 civil lawsuit unless Doug agrees to a settlement of their...
Mary threatens Doug with a $50,000 civil lawsuit unless Doug agrees to a settlement of their dispute. Doug argees to a settlement of $25,000. Doug can rescind the settlement agreement because he was under duress at the time. True False 4 points QUESTION 7 "In consideration for you having helped me when I was unconscious, I will give you $100.00." This is a binding promise because there is legally sufficient consideration. True False 4 points QUESTION 8 A minor's right...
58. You are deciding whether to buy a new or a two-year-old car (of the same...
58. You are deciding whether to buy a new or a two-year-old car (of the same make) based on which will have cost you less when you resell it at the end of three years. Your cost consists of two parts: the loss in value of the car and the repairs. A new car costs $20,000 and loses 12% of its value each year. Repairs are $400 the first year and increase by 18% each subsequent year. (a) For a...
Judy Franklin, 22 years old, has just graduated from college and is about to start a job as a graphic arts designer in a...
Judy Franklin, 22 years old, has just graduated from college and is about to start a job as a graphic arts designer in a large marketing company. Judy is also planning her wedding to George 6 months from now. She found a lump in her left breast during self-exam and has come to the physician for an initial consultation. During the assessment, the nurse learns Judy has not told her fiancé about her findings. Judy will not make eye contact...
Answer the question. Milton Aluminum built a plant 15 years ago at a cost of $10...
Answer the question. Milton Aluminum built a plant 15 years ago at a cost of $10 million. The relevant cost index was equal to 90 (15 years ago), and now is equal to 150. The company is considering building a second plant, twice as large as the first one built 15 years ago. Using the capacity factor of 1.25, what will be the estimated cost of building the second larger plant now?
2) Your friend Tom is deciding whether to buy a new car. The Honda that he...
2) Your friend Tom is deciding whether to buy a new car. The Honda that he wants will cost $25,000, with annual costs of $1,000 per year, with an estimated salvage value of $5,000 ten years from now. His current used car could be sold for $5,000 today, with the salvage value decreasing by $1,000 for each additional year. Annual costs are currently $2,000, but are expected to increase by $500 per year. Tom anticipates that his old car could...
Answer the question. Milton Aluminum built a plant 15 years ago at a cost of $10...
Answer the question. Milton Aluminum built a plant 15 years ago at a cost of $10 million. The relevant cost index was equal to 90 (15 years ago), and now is equal to 150. The company is considering building a second plant, twice as large as the first one built 15 years ago. Using the capacity factor of 1.25, what will be the estimated cost of building the second larger plant now? i Ff B I DUH
An individual agrees to pay $6,000 per year for three years to payoff a car loan....
An individual agrees to pay $6,000 per year for three years to payoff a car loan. His payments are always made at the end of each year. If the interest rate in year 1 is 3%, in year 2 is 3.5% and in year 3 is 4%, and if compounding is done twice a year, how much did the car originally cost? (That is, work out the price he must have agreed to pay for the car.)
You hope to buy your dream car 5 years from now. Today, that car costs $68,000...
You hope to buy your dream car 5 years from now. Today, that car costs $68,000 but you expect the price to increase by an average of 4% per year over the next five years. How much will your dream car cost by the time you are ready to buy it?
John, age 35, buys a car from Marty, age 16. John can legally enforce the contract but Marty cannot True False Question 10 (5 points) Tom and Ray, both adults, agree verbally that Tom will buy Ray's car for $2.000. Both Tom and Ray know that Tom stole the car. Ray can legally enforce this contract. True False Question 11 (5 points) John makes a fist and swings it next to Mary's head pretending to strike her. Mary faints. Mary...
58. You are deciding whether to buy a new or a two-year-old car (of the same make) based on which will have cost you less when you resell it at the end of three years. Your cost consists of two parts: the loss in value of the car and the repairs. A new car costs $20,000 and loses 12% of its value each year. Repairs are $400 the first year and increase by 18% each subsequent year. (a) For a...
Answer the question. Milton Aluminum built a plant 15 years ago at a cost of $10 million. The relevant cost index was equal to 90 (15 years ago), and now is equal to 150. The company is considering building a second plant, twice as large as the first one built 15 years ago. Using the capacity factor of 1.25, what will be the estimated cost of building the second larger plant now?
Answer the question. Milton Aluminum built a plant 15 years ago at a cost of $10 million. The relevant cost index was equal to 90 (15 years ago), and now is equal to 150. The company is considering building a second plant, twice as large as the first one built 15 years ago. Using the capacity factor of 1.25, what will be the estimated cost of building the second larger plant now? i Ff B I DUH
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