A Contract Is Said to Have Legal Value If ________

question 17

Multiple Choice

A contract is said to have legal value if ________.

• A) both the promisor and the promisee receive a legal benefit
• B) the promisor suffers a legal detriment
• C) the promisee suffers a legal detriment
• D) the promisee receives a legal benefit

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Definitions:

Creative Destruction

A process where new innovations lead to the demise of older technologies or methods, driving economic development.

Film Camera

A photographic camera that uses light-sensitive film to capture images, as opposed to digital cameras that capture images electronically.

Digital Camera

An electronic device that captures photographs in digital format, allowing for storage, manipulation, and sharing of images without film.

Entrepreneurial Judgment

The ability of an entrepreneur to make decisions that influence the success and direction of a business, often under conditions of uncertainty.