Identify five exceptions to the general rule that illegal contracts are unenforceable
The rule of unenforceability is subject to the following exceptions: (a) a party to an illegal agreement may, before performance, withdraw from the transaction and recover whatever she has contributed, as long as she has not engaged in serious misconduct; (b) a party may be protected by statute; (c) where one party is less at fault than the other, he may be allowed to recover payments made or property transferred; (d) excusable ignorance; and (e) partial illegality.
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Employers can appeal citations, proposed penalties, and corrections they have been ordered to make through multiple levels of the agency, culminating with the:
A. National Institute for Occupational Safety and Health. B. Supreme Court. C. Occupational Safety and Health Review Commission. D. Safety and Health Workers' Compensation Review Board.
All of the following statements regarding long-term liabilities are true except?
A. Liabilities not expected to be paid within the longer of one year or the company's operating cycle are reported as long-term liabilities. B. Long-term liabilities can be reported on the balance sheet in a single total or in multiple categories. C. A single long-term liability can be divided between current and noncurrent sections on the balance sheet. D. Long-term liabilities include long-term notes payable, warranty liabilities, lease liabilities, and bonds payable. E. Liabilities that do not have a fixed due date, but are payable on demand, are reported as long-term liabilities.
Dean, the president of Billing & Credit Company, promises to pay his employee Ewing, who is dangerously obese, $10 for every pound that he loses within the next two years. Ewing agrees, diets and exercises, loses 154 pounds, and asks Dean for $1,540
Dean refuses to pay, say-ing that he does not remember the promise, but that even if he did make it, there was no consideration, and Ewing's improved health is a sufficient benefit for his effort and sacrifice. Ewing files a suit against Dean. In whose favor is the court likely to rule, and why?
A subagent is an agent of an agent, not an agent of the principal, so owes no duty to the principal, only to the agent
a. True b. False Indicate whether the statement is true or false