Explain How an Oral Contract That Is Unenforceable Because It

question 22

Essay

Explain how an oral contract that is unenforceable because it is not in writing,may still affect the relationship between the parties.

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Definitions:

Line of Credit

A flexible loan from a bank or financial institution that allows a borrower to draw funds up to a specified limit at any time, with interest typically charged only on the amount drawn.

Specific Length

A term that might refer to the fixed duration or measure of something, but without more context, its application is too broad to define precisely here.

JIT Systems

Just-In-Time systems refer to an inventory management strategy aimed at increasing efficiency and reducing waste by receiving goods only as they are needed in the production process.

Similar Manufacturers

Companies within the same industry that produce similar products or services, often considered when analyzing market competition or industry standards.