A Contract Is Created When ________

question 57

Multiple Choice

A contract is created when ________.

• A) the acceptance has been received by the offeror
• B) an acknowledgement is sent by the offeror to the offeree of receiving an acceptance
• C) the offeree dispatches the acceptance
• D) a sale of goods has been performed under the contract

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Definitions:

Exporting

The process of selling goods or services produced in one country to buyers in another country.

Master Franchise Arrangement

A type of franchise agreement where the master franchisee has the exclusive rights to develop a brand in a particular territory, sub-franchising to others.

Joint Ventures

A business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task, often with both sharing in the profits and risks.

Unfair Regulation

Imposed rules or laws considered unjust and detrimental to specific groups or entities.