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Mark, a manager at Matt's Shack, monitors the performance of workers in his department to determine if the quality of their work is meeting the standards of the company. Mark is engaging in which of the following managerial functions?
Contract Law
The body of law that governs the formation, enforcement, and interpretation of agreements between parties.
Guarantee
A formal promise or assurance, typically in writing, that certain conditions will be fulfilled or a product will meet a specified standard of quality.
Indemnity
A legal agreement to compensate for any losses or damages incurred by another party.
Statute of Frauds
A legal principle that certain types of contracts must be in writing and signed by the party to be charged, in order to be enforceable.
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