Bud Approves on Behalf of Cody-But Without Authorization-A Contract with Dik

question 9

Multiple Choice

Bud approves on behalf of Cody-but without authorization-a contract with Dik to build a new silo. Cody does not ratify the contract. Later, Dik tries to enforce the deal. This attempt will be​

• A) ​partly successful.
• B) ​partly unsuccessful.
• C) ​totally successful.
• D) ​totally unsuccessful.

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Definitions:

Economically Equivalent

Refers to different financial transactions or investments that have the same economic effect or value, despite differing in structure or form.

Scheduled Payment

A pre-determined amount of money that is paid at regular intervals under the terms of a loan or lease agreement.

Compounded Semi-Annually

Interest on a loan or investment calculated twice a year, adding each interest payment to the principal.

Bond Interest

The interest received by a bondholder, typically paid semi-annually, on the bond's face value.