The Objective Theory of Contracts Is Based on the Premise

question 46

Multiple Choice

The objective theory of contracts is based on the premise that:

• A) even offers made in obvious jest can be the basis of a contract.
• B) every contract must have a central object to it.
• C) every contract must have consideration given by both parties.
• D) whether the intent is present is based on how a reasonable person would view the parties' actions and is not based on the actual intentions of the parties.
• E) the intent to be bound is determined after the parties have had a chance to perform the contract.

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Definitions:

Countercultures

Groups in which the patterns of values and philosophies outwardly reject those of the organization or social system.

Subcultures

Groups exhibiting unique patterns of values and philosophies not consistent with the dominant culture of the larger organization or system.

Ethnic

Relating to a population subgroup with a common national or cultural tradition, often characterized by distinct language, culture, and sometimes physical characteristics.

Internal Adaptation

The process by which an organization or organism adjusts to changes within its internal environment.