What Do We Mean When We Say That a Contract

question 7

Multiple Choice

What do we mean when we say that a contract must have a legal purpose?

• A)It must not be for the performance of an activity prohibited by law.
• B)It must not be signed when one or both the parties are intoxicated.
• C)It must be in written format so that it is easier to understand and so that it stands as proof.
• D)It must not be done for minor or petty agreements.
• E)It must only be for situations where monetary incentives are concerned.

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Definitions:

Discretionary Fiscal Policy

Government policy that involves adjusting its spending levels and tax rates to monitor and influence a nation's economy.

Cabinet Members

High-ranking government officials, typically heads of departments or agencies, who serve as advisors to the President or head of state.

Federal Outlays

Government spending or expenditures, including all amounts paid out by the federal government, typically categorized by function.

Capital Budget

A Capital Budget involves the planning and allocation of funds for long-term investments and infrastructure projects.