Agreeing Not to Open a Competing Business Could Be Consideration

question 13

True/False

Agreeing not to open a competing business could be consideration.

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Definitions:

FUTA Tax

The Federal Unemployment Tax Act tax, paid by employers to fund the unemployment account of the federal government.

SUTA Tax

State Unemployment Tax Act tax, a payroll tax paid by employers to fund the state unemployment insurance program.

Medicare

In the United States, Medicare is a public health coverage scheme designed for individuals over the age of 65, along with a select group of younger people who have certain disabilities.

Tax Table

A chart that displays the amount of tax owed based on income received, helping individuals or entities calculate their taxes.