Social Studies, 18.03.2020 01:04, bearminar2156

Michael has been hired as an attorney at a law firm. However, his contract remains valid only if he passes the bar exam within a year of joining the firm. The law firm is not obligated to retain the contract if Michael does not pass the bar exam. This is an example of a condition precedent.

True of False

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answered: rolo7105

FALSE

Explanation:

A condition precedent is a legal term describing a condition or event that must come to pass before a specific contract is considered in effect or any obligations are expected of either party.

Michael's case is not an example of condition precedent because Michael has already been hired as an attorney at the firm, he only needs to keep his contract valid by passing the bar exam within one year of joining the firm. So if he fails the exam, then it is not precedent because the contract has already been given, it just won't be retained.

For it to be a condition precedent, then it means it is either he passes the bar exam and he gets hired or he fails the exam and not get hired. Therefore, Michael's case is not an example of condition precedent, the right answer is FALSE.

answered: Guest

to stay where they were until m sent for

answered: Guest

levels of production can be increased by technology while holding labor and capital constant, because increased technology makes the production process more efficient. subsequently, the lras curve is almost a vertical line, that can shift to the right, with an increase in technology.

the relationship between the lras curve and the ppc is that both can make the economy could grow. the ppc achieves that when it shifts outward because of more resources or technological advances while the lras curve shifts if more resources are developed or if there are technological advances.

the lras curve is a vertical line at an output level that represents the number of goods and services a nation can produce over a sustained period using all of its productive resources as efficiently as possible with all of the current technology available to it.

the production possibilities frontier (ppf) is a graphical device that is used for economic analysis of production decisions because the ppf measures the maximum possible combinations of two goods that an economy is capable of producing with its currently available resources and technology.

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Michael has been hired as an attorney at a law firm. However, his contract remains valid only if he...