Two Parties Are Debating Whether or Not to Put Their

question 7

Multiple Choice

Two parties are debating whether or not to put their contract into writing.In making their determination,which of the following factors would normally NOT be considered?

• A)whether or not the agreement falls within the Statute of Frauds
• B)the complexity of the agreement
• C)the length of time covered by the agreement
• D)the relationship between the two parties

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Definitions:

Net Costs

The total costs incurred by a business after deducting any discounts, allowances, or returns from the gross costs.

Tariffs

Taxes imposed by a government on imported goods, typically aimed at protecting domestic industries and increasing government revenue.

Quotas

Limits set by governments on the quantity of a good that can be imported or exported during a specific time period, often used to protect domestic industries.

Offshoring

Refers to the practice of relocating business operations or processes to another country, typically to reduce costs.