A Contract Is a Binding Agreement Between Two Parties Wherein

question 12

True/False

A contract is a binding agreement between two parties wherein one of the parties is obliged to perform a specific act and the obligation to perform that act is recognized or enforced by law.

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Definitions:

Fraud

Intentional misleading to achieve illicit benefits or to cheat someone out of their rightful entitlement.

Big Five

A personality model that outlines five major traits used to describe human personality: openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Extraversion

A personality trait characterized by sociability, talkativeness, assertiveness, and high levels of emotional expressiveness.

Imaginative

Possessing the ability or tendency to think creatively and inventively, often leading to new ideas or concepts.