Which of the following is needed to create a valid contract?
A) an invitation to treat
B) serious intention
C) equal consideration for each party
D) option
E) all of the above
B
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Factory Overhead is not extended to the Income Statement or Balance Sheet columns of the work sheet
Indicate whether the statement is true or false
Discuss how to make effective use of technology as you analyze your career goals and begin a job search
What will be an ideal response?
A company borrowed cash from the bank by signing a 5-year, 8% installment note. The present value for an annuity (series of payments) at 8% for 5 years is 3.9927. The present value of 1 (single sum) at 8% for 5 years is .6806. Each annual payment equals $75,000. The present value of the note is:
A. $110,196.89. B. $375,000.00. C. $299,452.50. D. $56,352.84. E. $18,784.28.
Umberto and Tiara, who are married, borrow $110,000 from Sterling Credit Union to buy a home. The loan is a fixed-rate mortgage at 5.25 percent with a thirty-year term, subject to an acceleration clause, and secured by the home, which is their principal residence. When Umberto and Tiara have paid off $10,000 of the mortgage¾still owing $100,000¾they lose their jobs and stop making payments. Sterling Credit makes numerous attempts to contact the couple, but they do not respond. Meanwhile, the market value of their home has declined to $85,000. After six months, Sterling Credit decides to take steps to recover the unpaid amount of the loan. What are the lender's options? Which option seems most likely? Why? What are the steps are involved?
What will be an ideal response?