Assuming That All Other Elements of a Contract Are Present

question 127

Multiple Choice

Assuming that all other elements of a contract are present, which of the following would most likely be held to be a binding contract, considering only the requirement that the object of a contract must be legal and not contrary to the public interest?

• A)A provision in a contract of employment where the employee agrees that, upon leaving, he or she will not work in a similar business anywhere for five years
• B)A life insurance policy bought by Harvey insuring the life of his neighbour Kneival without Kneival's consent
• C)An agreement to pay $500 to Mildred if Mildred spreads the false rumour that Helen, a nurse, has AIDS
• D)An insurance policy paid by a shareholder to insure the business premises of a company in which he holds shares
• E)An agreement among city-wide gas station owners to set a common price for gas

Identify external factors that affect HR forecasting.

Acknowledge critical skills necessary for effective HR planning.

Comprehend the significance of firm-specific human capital.

Understand the impact of AI and advanced algorithms on HR forecasting and planning.

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Definitions:

Economic Losses

Occurs when a company's total costs exceed its total revenues, indicating that the business is not efficiently allocating its resources.

Economic Profits

Profits exceeding the opportunity costs of a company's resources, indicating it is generating returns beyond the next best alternative.

Economic Profit

The difference between total revenue and total costs, including both explicit and implicit costs, in economic theory, representing the surplus generated by an entity in economic activities.

Long-run Equilibrium

A state where all factors of production can be varied, and all economic participants have fully adjusted to any changes, leading to a stable economic condition.