Examlex
To be enforceable, a writing evidencing an oral contract must have been signed by the party who seeks to enforce it.
Implicit Costs
The opportunity costs that arise from using resources owned by the firm for its own production instead of earning revenue from these resources elsewhere.
Normal Profit
The lowest amount of profit a company must earn to stay competitive and cover its opportunity costs.
Implicit Costs
Implicit costs, also known as imputed or opportunity costs, are the costs of resources owned by the firm that are used in its own production process.
Explicit Costs
Direct, out-of-pocket payments for wages, rent, materials, and other inputs in the production process.
Q2: Wilma owes Jill $5,000.Jill assigns the claim
Q15: Smith & Jones,Accountants,agrees to perform an audit
Q18: John enters into a contract with Katie's
Q21: Fletcher signs a contract to buy a
Q47: Uri and Victor enter into a contract
Q52: In an assignment,the party assigning the rights
Q62: A liquidated damages provision specifies that a
Q62: An offer made to the public needs
Q64: Digital Enterprise,Inc.,promises to pay its employees a
Q71: In contract law,intent is determined by the