Examlex
Which of the following is TRUE?
Enforced Auction
A legal process where items are sold to satisfy debts owned by their owner.
Firm Offer
In contract law, an offer that is expressly made irrevocable for a specified period of time by the offeror.
Merchant
An individual or company involved in wholesale or retail trade, especially one dealing with goods, services, or commodities for profit.
Consideration
Consideration in legal terms refers to the value, which could be a benefit or a sacrifice, that parties exchange in a contractual agreement, essential for the contract's validity.
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