An Express Contract

question 15

Multiple Choice

An express contract

• A)must be in writing.
• B)may be inferred by the conduct of the parties involved.
• C)has both parties setting forth their intentions.
• D)is not valid in many states.

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Definitions:

Resource Acquisition

The process of identifying, obtaining, and allocating the necessary resources, such as human, financial, or material, to achieve organizational goals.

Inventories

Quantities of goods or materials that a business holds for the purpose of sale or production.

Facilities

Physical resources such as buildings or equipment provided for a particular purpose.

Product Quality

The extent to which a product meets or exceeds customer expectations in terms of durability, reliability, functionality, and other attributes.