The Consideration Element of a Contract States That

question 22

Multiple Choice

The consideration element of a contract states that

• A) A contract must be intended to accomplish a legal purpose.
• B) A contract must include a legitimate offer and a legitimate acceptance.
• C) Something of value must be exchanged between the two parties.
• D) The parties entering into a contract must have the capacity to do so.

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Definitions:

Globalization

The process by which businesses, cultures, and national borders become more interconnected and interdependent, often through increased trade and communication.

Financialization

The growing dominance of financial markets, financial motives, financial institutions, and financial elites in the economy, shaping social and economic policies.

Free-Market Public Policies

Policies that advocate for minimal governmental intervention in the economy, emphasizing the role of market forces in allocating resources.

Corporate Codes

Voluntary guidelines or principles adopted by corporations to govern their conduct in areas such as labor practices, ethics, and environmental performance.