The ________ Theory of Contracts States That the Intent to Contract

question 74

Multiple Choice

The ________ theory of contracts states that the intent to contract is judged by the reasonable person standard and not by the subjective intent of the parties.

• A)objective
• B)relational
• C)collateral
• D)bargain

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Definitions:

Supply and Demand

An economic model describing the relationship between the availability of a product (supply) and the desire for that product (demand) which determines its price on the market.

Real Time

The processing of data and execution of actions almost instantaneously, with minimal delay.

Viral Marketing

A marketing strategy that focuses on spreading information and opinions about a product or service from person to person, especially by using unconventional means such as the Internet or email, to influence.

Customerization

A business strategy that combines mass customization with personalized marketing to meet the specific needs of individual customers.