An Exclusive Dealing Contract Is One Type of Contract Which

question 9

True/False

An exclusive dealing contract is one type of contract which is illusory because it lacks consideration.

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Definitions:

Museum

An institution dedicated to collecting, preserving, exhibiting, and interpreting artifacts and works of significant historical, cultural, or artistic value.

Express Trust

A trust explicitly created by a settlor, typically in a written document, specifying how trust assets are to be managed and distributed.

Voluntary Action

An act done by choice or free will, without external compulsion.

Fiduciary Relationship

A trustworthy legal and ethical connection where the fiduciary is responsible for acting in the utmost interest of the principal or beneficiary.