Abbey Helped Greyson Study for an Important Exam for About

question 70

Multiple Choice

Abbey helped Greyson study for an important exam for about 8 hours. After Greyson got an "A" on the exam, he told Abbey , "I will give you $25 for helping me get a good grade." Abbey said, "Thanks, I'll take it." There is:

• A) no contract because there is no mutual assent.
• B) no contract because there is no valid consideration.
• C) no contract because $25 is not adequate consideration for 8 hours work.
• D) a contract with sufficient consideration.

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Definitions:

Noncontrolling Interest

A portion of the equity in a subsidiary not attributable, directly or indirectly, to the parent company.

Net Income

The profit of a company after all expenses and taxes have been deducted from revenues.

Upstream Intra-Entity Profits

Profits realized from transactions between a parent company and its subsidiary, where the subsidiary sells to the parent.

Mutual Ownership

Refers to an arrangement where entities are owned by their members who share profits or benefits.