Every promise and every set of promises, ------------------------is an agreement 1. In exchange for each another 2. Forming the consideration for each other 3. Mutually agreed 4. Partially agreed

What are the two exceptions to the general rule that an entity should allocate the transaction price based on the relative standalone selling price? Are the percentage-of completion and the completed contract methods both viable alternatives for a given contract Explain Does aggregating the five components of pension cost always result in a reduction in income? Do corporations report the projected benefit obligation and the plan assets as individual accounts on the sponsor corporation’s balance sheet?

Late one evening Charles and Henry are discussing the purchase and sale of $2,500 of coffee shop equipment after entrepreneurship class. They are in the classroom when Henry writes their agreement on the classroom whiteboard and both Henry and Charles sign it on the whiteboard. Discuss if this whiteboard document is sufficient to provide a binding written agreement?

Be careful when the counterparty discloses their BATNA at the outset of the negotiation. When the counterparty discloses his or her BATNA at the outset of the negotiation, negotiators often respond with all of the following actions, except _____. Group of answer choices disclose more truthful information settle for less profit make less demanding offers make more extreme demands for money and time

James is looking to enter into a listing contract with Mary to sell her house. The two are trying to come to an agreement on what type of listing contract to use. What type of listing contract will offer James the least amount of protection? O An open listing agreement since it is a unilateral contract. O An exclusive Right to Sell agreement since it is a bilateral contract. O An Exclusive Agency agreement since the owner can still find a buyer themselves O An Exclusive Agency agreement since it is a unilateral contract.

You've read about the statute of frauds and how it requires certain agreements to be in writing (remember the acronym MYLEGS). Thinking about all contracts, do you think that all contracts should be in writing? Or do you think this would hinder or slow down transactions?  Please discuss your thoughts on these questions while keeping in mind the purpose behind the statute of frauds.

Simon purchased both a call and a put on 280,000 bushels of lentils. Both options have a strike price of $5.00/bushel and a common expiration date. Lentils contracts are based on 5,000 bushels. The price of lentils on the expiration date is $5.38/bushel. A. Ignoring all costs, calculate Simon's total option payoff for these two contracts. B. Assuming that a call costs Simon $0.15 per bushel and a put costs $0.11 per bushel, calculate Simon's total profit or loss on the two positions.

It is said that we all make a variety of contracts every day. How can this be? How do we make agreements without actually necessarily saying anything to another party or even determining the terms of these agreements

Partnership agreements can be modified:   (A) Only with prior approval from the IRS. (B) At any time if agreed to by all partners, for both formal written agreements or informal agreements. (C) Only in writing, regardless of whether the partnership agreement is formal or informal. (D) If more than 75% of the partners agree to the modifications to the agreement

Sometimes an issur with a property is discovered during the pre-closing stage. Buyers may be willing to accept deficiencies if they an compensate through a price reduction. Which of the following is correct regarding adjusting a purchase price to offset a deflciency.Select one: O. The value of the price adjustment may become a matter of negotiations between the parties. O. A new agreement of purchase and sale must be drafted and signed to finalize the price adjustment. O. A formal appraisal is always required to determine the adjusted purchase price.  O. Buyers are contractually obligated to negotiate an adjusted purchase price.