Examlex
Which of the following statements about formal business reports is NOT accurate?
Oral Contract
An agreement between parties spoken aloud and not recorded in written form, yet legally binding under certain circumstances.
Memorandum
A memorandum is a written message used in business or diplomacy to communicate formal information, policies, or instructions.
Oral Contract
An agreement between parties spoken and agreed to aloud rather than written, yet is legally binding.
Consideration
The benefit, interest, right, or profit involved in an agreement or contract, on which it is based.
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