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Sadie White receives an hourly rate of $30, with time and a half for all hours worked in excess of 40 during a week. Payroll data for the current week are as follows: hours worked, 48; federal income tax withheld, $300; social security tax rate, 6.0%; and Medicare tax rate, 1.5%. What is the net amount to be paid to White?
Promissory Estoppel
A legal principle that prevents a party from withdrawing a promise made when the other party has reasonably relied on that promise to their detriment.
Statute of Frauds
A legal principle requiring certain types of contracts to be in writing and signed to be enforceable.
Oral Contract
A verbal agreement between parties that is legally binding, though more difficult to enforce than written contracts due to the lack of physical evidence.
Voidable
A transaction or agreement that is legally valid but may be annulled or voided at the discretion of one of the parties involved.
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