"For a Contract to Be Binding, Both Parties Must Have

question 71

Essay

"For a contract to be binding, both parties must have a clear understanding of all the terms of that agreement." Discuss the accuracy of that statement.

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Definitions:

Japanese Importer

A company or individual based in Japan that buys goods from other countries for resale or use in Japan.

British Pound

The official currency of the United Kingdom, symbolized as GBP, it is one of the world's major currencies.

Exchange Rate

The value of one nation's currency versus the currency of another nation or economic zone.

U.S. Importer

A U.S. importer is a company or individual that brings goods or services into the United States from foreign countries for sale or use.