Reimbursement for fuel and maintenance costs

Assignment Help Finance Basics
Reference no: EM131947756

Fran runs a small business called Fran's Fine Treats, supplying gourmet chocolates to food stores and health spas. Recently her products have grown in popularity, and the business is growing significantly.

Fran decides to hire an assistant to help her with deliveries. She approaches her brother Marco, who owns a van. Marco was planning to take on a well-paying job opportunity in a nearby town, but he agrees to stay local instead, so that he can help Fran grow her business.

Marco is concerned about wear and tear on his van, and about insurance in case he is involved in a traffic accident while making deliveries. So, he wants to make sure the arrangement with Fran is formalised. He gets the advice of a lawyer, who helps to draft an employment agreement setting out hours, rate of pay, reimbursement for fuel and maintenance costs, responsibility for vehicle insurance and various other details. 

After both Fran and Marco have inspected the document prepared by the lawyer, and discussed all its contents, they both sign it and have their signatures witnessed. Two days later, Fran regrets her decision and wants to hire her niece Jane instead. 

Is Fran bound by the written agreement with Marco?

Reference no: EM131947756

Questions Cloud

Examine various perspectives gathered from the cq researcher : Formulate a summary lead that is concise, engaging, and that includes at least three of the five "w's."
Demand for student accommodation in the city : A Businessman is considering a real estate investment so as to take advantage of the ever-rising demand for student accommodation in the City
Discuss the factors that led to huge losses : Discuss the factors that led to huge losses and describe measures that could have prevented those losses
Explain contributory and non-contributory welfare programs : Explain civil liberties and include the example of west virginia vs. Barnette and relating it to Colin Kaepernick not standing for the pledge.
Reimbursement for fuel and maintenance costs : Marco is concerned about wear and tear on his van, and about insurance in case he is involved in a traffic accident while making deliveries.
Focus on the bottom line meaning net income : Some managers focus on the ’bottom line,’ meaning net income.
Research the policy context and implementation : Research the policy context, implementation, effectiveness, and evaluate it using the criteria laid out in your lesson.
What is your inheritance worth to you today : What is your inheritance worth to you today if you can earn 9.5 percent on your investments?
Explain what greater risk is exposed when low cap rate : Explain what 'greater' risk is exposed when a low cap rate is used?

Reviews

Write a Review

Finance Basics Questions & Answers

  Quiver archerys bond currently is selling for 1005 its

quiver archerys bond currently is selling for 1005 its value one year ago was 990. the bond has a 1000 maturity value

  A corporation has two classes of stock outstanding the

a corporation has two classes of stock outstanding. the return on common stockholders equity is computed by dividing

  Was the overall result favorable or unfavorable

Was the overall result favorable or unfavorable? On average, it was able to collect $55 per flu shot and $70 per flu patient.  Compute the volume, mix, and price revenue variances.  How did things turn out for the group considering just revenues?  H..

  What specific costs will occur with each form of financing

The company needs a cash infusion of $1.2 million, and it can issue debt with an interest rate of 8 percent. Assume there are no corporate taxes.

  The bond''s coupon rate

If a bond's yield to maturity is larger than the bond's coupon rate, then the bond's price...

  Estimate the affordable mortgage price

Kim and Dan Bergholt are government workers. They are planniing buying a home in the Washington D.C. area for about $280,000.

  Explain why setting a higher discount rate is not a cure

Explain why setting a higher discount rate is not a cure for a upward-biased cash flow forecasts.

  How did that change after the war

Why did the Civil War increase union membership? Discuss the reasons. How did that change after the war?

  What actions can reduce the chances of an irs audit

What factors might be considered when creating a tax that is considered fair by most people in a society?

  Creative education solutions

How can we build a primary/secondary education system in the USA that broadly prepares young people to operate in a creative, high technology society? How do we prepare citizens to be information literate and life-long learners at the same time? U..

  Impacts of inventory errors on financial statements

Inventory appears on different financial documents including balance sheets. These amounts can affect both the reported ending inventory and retained earnings.

  Network service provider verisign

The β = 0.79 for network service provider VeriSign, Inc. (VRSN), and β = 1.34 for video game supplier Electronic Arts Inc. (ERTS). If the market return is expected to be 10% and the risk-free rate is 4%,

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd