______ Is an Exchange of Information

question 23

Multiple Choice

______ is an exchange of information.

• A) Telephony
• B) Marketing
• C) Production
• D) Communication

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Definitions:

Objective Theory Of Contracts

A theory under which the intent to form a contract will be judged by outward, objective facts as interpreted by a reasonable person, rather than by the party’s own secret, subjective intentions. Objective facts might include what a party said when entering into the contract, how a party acted or appeared, and the circumstances surrounding the transaction.

Express Contract

A contract in which the terms of the agreement are fully and explicitly stated in words, oral or written.

Express Contract

A legally-binding agreement in which the terms are explicitly stated by the parties involved either orally or in writing.

Unilateral Contract

A contract in which one party makes a promise in exchange for an act by the other party, becoming binding only when the act is completed.