« previous next »

Author Question: What is consideration? Must it be financial only? What will be an ideal ... (Read 21 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?

Dogs have been used in studies to detect various cancers in human subjects. They have been trained to sniff breath samples from humans that were collected by having them breathe into special tubes. These people included 55 lung cancer patients, 31 breast cancer patients, and 83 cancer-free patients. The dogs detected 54 of the 55 lung cancer patients as having cancer, detected 28 of the 31 breast cancer patients, and gave only three false-positive results (detecting cancer in people who didn't have it).

Did you know?

Vaccines prevent between 2.5 and 4 million deaths every year.

Did you know?

The heart is located in the center of the chest, with part of it tipped slightly so that it taps against the left side of the chest.

Did you know?

The shortest mature adult human of whom there is independent evidence was Gul Mohammed in India. In 1990, he was measured in New Delhi and stood 22.5 inches tall.

Did you know?

The word drug comes from the Dutch word droog (meaning "dry"). For centuries, most drugs came from dried plants, hence the name.

The world has been horrified recently at a U.S. Congress so polarized and paralyzed that it cannot p The world has been horrified recently at a U.S. Congress so polarized and paralyzed that it cannot p
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, ...
What are examples of ideal forms? What are examples of ideal forms?
Under ideal conditions, a single cell of the bacterium E. coli would divide every 20 minutes to ... Under ideal conditions, a single cell of the bacterium E. coli would divide every 20 minutes to ...
If CP for an ideal gas is 35.4 J/molK, which of the following is CV for this gas? If CP for an ideal gas is 35.4 J/molK, which of the following is CV for this gas?
Financial Management 4th Edition (Cengage) Financial Management 4th Edition (Cengage)
Video: Phases of mitosis

For a complete list of videos, visit our video library