Standard Form Contracts Are Contracts Drafted by One Party and Usually

question 76

True/False

Standard form contracts are contracts drafted by one party and usually for their benefit.

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Definitions:

Service Business

A business that provides intangible products or services to customers, as opposed to selling physical, tangible goods.

Large Businesses

Enterprises or corporations that operate on a large scale in terms of revenue, employees, and market impact, often influencing their industry or sector significantly.

Corporation

A legal entity distinct from its owners, with its own rights, privileges, and liabilities.

Owned

Referring to assets or properties that are legally possessed by an individual or entity.