Various Legislation Requires Certain Contracts to Be in Writing and Signed

question 27

Multiple Choice

Various legislation requires certain contracts to be in writing and signed in order to be effective and enforceable.Which of the following type of contract will be effective and enforceable even where it is not in writing and signed?

• A)An arbitration agreement
• B)A bill of exchange
• C)A consumer credit contract
• D)A contract for the sale of goods

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Definitions:

Currency Valuations

The process of determining the worth of one currency in terms of another currency.

Option

A financial derivative that gives the buyer the right, but not the obligation, to buy or sell an asset at a predetermined price within a specific time period.

Forward Exchange Rate

A predetermined rate for exchanging one currency for another at a future date, used primarily to hedge against currency risk.

Monetary Policies

Strategies and actions taken by central banks to control the supply of money in the economy, typically impacting interest rates and aiming to maintain price stability and achieve economic growth.