Express Contracts and Implied Contracts Are

question 35

Multiple Choice

Express contracts and implied contracts are:

• A) both genuine contracts.
• B) equally enforceable.
• C) voidable for lack of capacity.
• D) All of these.

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Definitions:

Intermediate Good

A product used in the manufacturing process to produce a final good or finished product, not sold directly to consumers.

Transfer Price

The price at which goods or services are sold between departments within the same organization or between affiliated companies.

Division Producing

An organizational unit within a company that is responsible for creating a specific group of products or services.

Intermediate Product

Goods used as inputs in the production of final products, not sold directly to end consumers.