The state of transas has set a maximum interest rate of 12 percent on loans. matt borrows $10,000 from tony to pay off a gambling debt. both are residents of transas.
they sign a contract, which states that matt would have to pay $1,500 as interest in one year to pay off the loan. later, matt gets to know about the state usury limit and sues tony. what is the nature of the contract between matt and tony?
a) it is illegal as it violates gambling statutes.
b) it is legal as both parties were competent when the contract was signed.
c) the contract is void as it violates usury laws.
d) the contract is void as it is a contract to commit a crime.

Galwaysc electronics makes two products. model a requires component a and component c. model b requires component b and component c. new versions of both models are released each year with updated versions of all components. all components are sourced overseas, and abc contracts annually for a quantity of each component before seeing that year’s demand. components are only assembled into finished products once demand for each model is known. for the coming year, alwaysc’s purchasing manner has proposed ordering 500,000 units of component a, 630,000 of component b, and 1,000,000 units of component c. her boss has asked why she has recommended purchasing so much of components a and b when alwaysc will not have enough of component c to fully use all of the inventory of a and b. what factors might the purchasing manager cite to explain her recommended order? explain your reasoning.

The purpose of safety stock is to: a. eliminate the possibility of a stockout. b. control the likelihood of a stockout due to variable demand and/or lead time. c. eliminate the likelihood of a stockout due to erroneous inventory tally. d. protect the firm from a sudden decrease in demand. e. replace failed units with good ones.

Hundreds of a bank's customers have called the customer service call center to complain that they are receiving text messages on their phone telling them to access a website and enter personal information to resolve an issue with their account. what action should the bank take?