A Requirements Contract Is Too Vague to Be a Legally-Enforceable

question 5

True/False

A requirements contract is too vague to be a legally-enforceable agreement.

---

Definitions:

Asset And Liability Account Balances

The respective values of a company's current and non-current assets, and its current and long-term liabilities at a point in time.

Local Currency

Refers to the legal tender or official currency that is used within a country's borders.

Ending Inventory

The total value of goods available for sale at the end of an accounting period.