« previous next »

Author Question: What is consideration? Must it be financial only? What will be an ideal ... (Read 28 times)

rosent76

  • Hero Member
  • *****
  • Posts: 516
on: Aug 3, 2018
What is consideration? Must it be financial only?
 
  What will be an ideal response?

Question 2

What is an agency relationship and who are the parties to an agency relationship?
 
  What will be an ideal response?


wuly

  • Sr. Member
  • ****
  • Posts: 327
Reply #1 on: Aug 3, 2018
Answer to Question 1

Consideration is anything of value given in exchange for a promise. It can be monetary, such as the sales price given by a buyer. It can also be non-monetary such as the performance of some act, or the promise to refrain from something.

Answer to Question 2

An agency relationship is one that is formed by mutual agreement where one party, the principal, agrees that another party, the agent, shall act on behalf of the principal, at his direction and under his control.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The cure for trichomoniasis is easy as long as the patient does not drink alcoholic beverages for 24 hours. Just a single dose of medication is needed to rid the body of the disease. However, without proper precautions, an individual may contract the disease repeatedly. In fact, most people develop trichomoniasis again within three months of their last treatment.

Did you know?

In the United States, there is a birth every 8 seconds, according to the U.S. Census Bureau's Population Clock.

Did you know?

The modern decimal position system was the invention of the Hindus (around 800 AD), involving the placing of numerals to indicate their value (units, tens, hundreds, and so on).

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

Interferon was scarce and expensive until 1980, when the interferon gene was inserted into bacteria using recombinant DNA technology, allowing for mass cultivation and purification from bacterial cultures.

Ethnic Differences in Financial Support for College Based on a sample of 304 emerging adults aged 2 Ethnic Differences in Financial Support for College Based on a sample of 304 emerging adults aged 2
J. P. Morgan, the financial genius, staved off ruinous competition among steel firms by combining mo J. P. Morgan, the financial genius, staved off ruinous competition among steel firms by combining mo
For Your Consideration: If you had been reared in an Amish family, how would your ideas, attitudes, ... For Your Consideration: If you had been reared in an Amish family, how would your ideas, attitudes, ...
The Economics of Money, Banking and Financial Markets, Business School Edition The Economics of Money, Banking and Financial Markets, Business School Edition
A very light ideal spring stretches by when it is used to hang a 135-N object. What is the ... A very light ideal spring stretches by when it is used to hang a 135-N object. What is the ...
For the circuit in Figure 1, assume ideal diodes. The peak inverse voltage is approximately For the circuit in Figure 1, assume ideal diodes. The peak inverse voltage is approximately
Video: Flexor reflex & Crossed extensor reflex

For a complete list of videos, visit our video library