Which of the Following Retirement Plans Is Designed for Small

question 14

Multiple Choice

Which of the following retirement plans is designed for small businesses?

• A)SIMPLE plans
• B)SEP-IRA plans
• C)ESOP
• D)All of the above
• E)Only A and B

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Definitions:

Common Law

A legal system based on judicial decisions and precedents rather than statutory laws, common in many English-speaking countries.

Consideration

Something of value given by both parties to a contract that induces them to enter into the agreement to exchange mutual performances.

Quantum Meruit

A legal principle meaning "as much as he has deserved," allowing a person to recover reasonable compensation for services or goods provided when no contract exists, or where a contract exists but precise amounts are not specified.

Relied Promise

This term does not correspond to standard legal or contractual terminology and may not be a real key term. NO.