For Several Months, Yolanda Has Been Picking Up Tom's Suit

question 42

Multiple Choice

For several months, Yolanda has been picking up Tom's suit at the cleaners on the first Monday of each month. Each month, Tom pays her $25 when she delivers the suit to his office. This month she picks up the suit and delivers it to Tom's office. Tom refuses to pay Yolanda the $25, stating that they did not have a contract. What type of contract did Tom and Yolanda have?

• A) An implied contract
• B) An express contract
• C) A quasi contract
• D) A bilateral contract
• E) A unilateral contract

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Definitions:

Hypercompetition

describes a business environment characterized by intense and rapid competitive moves, where advantages are quickly eroded due to constant disruptive changes.

Competitors

Entities that compete within the same market for the same customers or resources.

Environmental Threats

Potential harmful effects on the natural environment from human activities or natural processes.

Resource Scarcities

Situations where the availability of resources is insufficient to meet the demands, often leading to competition and increased value of the scarce resources.