Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

ASAP Please Question Completion Status: [Rough Start] Allison, who just graduated from college, wanted to buy a new car. However, she did not have much

ASAP Please image text in transcribed
Question Completion Status: [Rough Start] Allison, who just graduated from college, wanted to buy a new car. However, she did not have much of a credit history, and the bank would not give her a loan unless she had a cosigner who agreed to be liable on the loan along with Allison. Allison's father cosigned with Allison on her loan at the bank. Allison also wanted to start a real estate business. She needed funds with which to do so. Her boyfriend, Sean, promised the bank, in writing that he would pay Allison's start-up loan for the real estate business if Allison did not do so. Unfortunately, Allison did not make any money in the real estate business. She went bankrupt along with Sean, who had been acting as her receptionist. The agreement entered into between Allison's father and the bank is called what? A certified agreement An acknowledged agreement A guaranty Un An executory promise A suretyship W QUESTION 15 Man agent makes a contract with a third party that expressly excludes the principal from the contract, which statement effectively describes the liability of the principal? The principal is liable on the contract only if the principal is an unidentified principal. The principal is liable on the contract only if the principal is a partially disclosed principal. The principalis liable on the contract because it is unconscionable to exclude a principal from a contract. The principal is not liable on the contract. The principalable on the contract unless the principal gave the agent authority in writing to make the agreement with the third party

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting For Beginners

Authors: Warren Piper Ruell

1st Edition

1713479397, 978-1713479390

More Books

Students also viewed these Accounting questions

Question

In problem find f (x) and simplify. f(x) = (3x + 5)(x2 - 3)

Answered: 1 week ago

Question

When and how will strategy reviews take place?

Answered: 1 week ago

Question

Do you know how you will monitor progress?

Answered: 1 week ago