The basic elements of a contract are: offer, acceptance, fair value, lawful subject matter, and genuine consent
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
Which of the following are NOT examples of corporate incentive programs?
A. Piecework programs B. Gain-sharing programs C. Health insurance programs D. Collateral programs E. Merit pay programs
If the board of directors authorizes a $100,000 restriction of retained earnings for a future plant expansion, the effect of this action is to
A) decrease total assets and total stockholders' equity. B) reduce the amount of retained earnings available for dividend declarations. C) increase stockholders' equity and to decrease total liabilities. D) decrease total retained earnings and increase total liabilities.
Which of the following is true of the priority of claims?
A) If two or more secured parties claim an interest in the same collateral but only one has perfected his or her security interest, the perfected security interest has priority. B) Although one of the parties to claim an interest in the collateral has perfected his or her security interest, all the parties are given fair and equal priority. C) If two or more secured parties claim an interest in the same collateral but neither has a perfected claim, they are given equal priority irrespective of attachments. D) If two or more secured parties claim an interest in the same collateral but neither has a perfected claim, the first to claim has priority.
Describe the theory of constraints in a sentence
What will be an ideal response?