Jack,who Recently Retired,wants to Invest in a New Upstart Local

question 46

Multiple Choice

Jack,who recently retired,wants to invest in a new upstart local company,The Turmoil Corp.As part of the deal for investing in The Turmoil Corp.,the company has agreed to give Jack "...some sort of maintenance or security job for as long as he feels able." This agreement would best be placed

• A)in the charter.
• B)under seal,since it lacks consideration.
• C)in writing,since it falls under the Statute of Frauds.
• D)in the by-laws,since it will need changing.
• E)in a separate side agreement,so as to avoid clutter and confusion.

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Definitions:

Change Hierarchy

An organizational or systematic way of prioritizing alterations or amendments in processes, behaviors, or structures within a group or system.

Investing More Effort

The action of dedicating additional energy and resources towards achieving a task or goal.

Equal Work

The principle that individuals should receive equal treatment and opportunities in the workplace, regardless of personal characteristics unrelated to their job performance.

Equal Outcomes

Describes a scenario where all participants or entities achieve the same results, regardless of differences in effort, skill, or starting conditions.