For a Binding Contract to Be Created, Consideration Must Be

question 102

Multiple Choice

For a binding contract to be created, consideration must be

• A) legally sufficient.
• B) validated by a court.
• C) paid in cash.
• D) legally sufficient and paid in cash.

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Definitions:

Task Environment

The immediate external factors that affect an organization's operations, including competitors, customers, suppliers, and regulatory agencies.

Intuition

The ability to understand something immediately, without the need for conscious reasoning, a "gut feeling."

Educated Guesses

Assumptions based on knowledge, experience, and logical reasoning, but without absolute certainty.

Hunches

Intuitive feelings or guesses without conscious reasoning, often based on experience.