Under Common Law,when Contracting Parties Agree to Use a Form

question 8

Multiple Choice

Under common law,when contracting parties agree to use a form of instantaneous communication,agreement is not reached until:

• A)the parties agree to carry out further negotiations.
• B)a printed record of the agreement is created.
• C)the offer is received by the offeree.
• D)the acceptance is received by the offeror.

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Definitions:

Negative Amortization

A situation in a loan where the monthly payments are not enough to cover the interest costs, causing the loan balance to increase rather than decrease over time.

Commission

A service fee charged by a broker or agent for facilitating transactions, such as in stocks or real estate.

Monthly Interest Charges

The amount of interest that accrues on a loan or debt and is payable on a monthly basis.

Sarbanes-Oxley Act

A United States federal law that set new or expanded requirements for all U.S. public company boards, management, and public accounting firms, aiming to protect investors from fraudulent financial reporting.