A Contract Is ________ If the Offeror's Promise Is Answered

question 148

Multiple Choice

A contract is ________ if the offeror's promise is answered with the offeree's promise of acceptance.

• A) unilateral
• B) bilateral
• C) executory
• D) executed
• E) formal

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Definitions:

Business Plan

A comprehensive document that outlines the objectives, strategies, financial forecasts, and market analysis of a business endeavor.

Demand Forecast

The process of estimating the future demand for products or services in a given market.

Profit Forecast

An estimation of future financial earnings or losses, typically focusing on income and expenses, over a specified period.

Sole Proprietorship

A business structure where a single individual owns, manages, and is responsible for all aspects of the business.