Howie enters into a contract with Ida over the Internet to buy soybeans as a hedge against falling prices in corn. Neither party prints out a hard copy. Under the Electronic Signatures in Global and National Commerce Act (E-SIGN Act), this contract can
A. be "denied legal effect" if it falls under the UCC's Statute of Frauds.
B. be "denied legal effect" unless a hard copy is printed.
C. be "denied legal effect" until it is executed.
D. not be "denied legal effect" because it is only in electronic form.
Answer: D
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A partnership began its first year of operations with the following capital balances: Young, Capital:$143,000Eaton, Capital:$104,000Thurman, Capital:$143,000??The Articles of Partnership stipulated that profits and losses be assigned in the following manner:? Young was to be awarded an annual salary of $26,000 and $13,000 salary was to be awarded to Thurman. ? Each partner was to be attributed with interest equal to 10% of the capital balance as of the first day of the year. ? The remainder was to be assigned on a 5:2:3 basis to Young, Eaton, and Thurman, respectively. ? Each partner withdrew $13,000 per year.?Assume that the net loss for the first year of operations was $26,000 with net income of $52,000 in the second year.?What was Thurman's total share of net
income for the second year? A. $17,290 income. B. $19,760 income. C. $ 4,160 income. D. $17,160 income. E. $28,080 income.
What memo did GM have that was different from the Ford Pinto situation?
a. There was no GM memo b. A memo from a lawyer advising against releasing any internal company analysis of the Malibu design c. A memo that fired engineers who worked on the Malibu d. None of the above
Which of the following promises does not have to be evidenced by writing in order to be enforceable?
A) Jerry's agreement with Monique to buy her condominium for $200,000 B) Stewart's promise to work for Austin for a two-year period C) Christopher's promise to Midwest Credit Union that he will make payments on his son's truck if his son does not pay D) Mindy's agreement with Chelsea to buy her bike for $400
The document that specifies the term of the loan as agreed to by the borrower and lender is called the
A) loan repayment schedule. B) loan contract. C) loan application. D) terms of agreement.