Marco Agrees to Sell Clowns R Us Some Balloons

question 25

Multiple Choice

Marco agrees to sell Clowns R Us some balloons.The contract states that Clowns may buy as many balloons as it wishes.This agreement is

• A)a requirements contract.
• B)an output contract.
• C)an illusory contract.
• D)an enforceable contract.

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Definitions:

Meritocracy

A system of government or another organization wherein appointments and responsibilities are objectively assigned to individuals based upon their "merits", namely intelligence, credentials, and education, rather than on wealth, race, or social background.

Party Loyalty

The allegiance or fidelity of individuals to a particular political party, often reflected in consistent voting patterns.

Federal Government

The national government of the United States, composed of three branches (legislative, executive, and judicial), established by the Constitution.

Classless Society

A society in which no classes exist, and the social hierarchy is flattened such that all individuals have equal access to resources and opportunities.