Over Time,most Contracts Are

question 126

Multiple Choice

Over time,most contracts are:

• A) executory at one time and executed at another time.
• B) bilateral at one time and unilateral at another time.
• C) valid at one time and void at another time.
• D) implied at one time and express at another time.
• E) voidable at one time and void at another.

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Definitions:

Short Run

A period in economic theory during which at least one input (like capital) is fixed, contrasting with the long run where all factors of production are variable.

Prices

The amount of money expected, required, or given in payment for something.

Unemployment

Unemployment refers to the situation when individuals who are able and willing to work cannot find employment.

Price Level

The median price level of all goods and services currently offered in the economy.