Examlex
Find the future value of a four-year investment of $50 at an interest rate of 6%.
Option
A separate promise to keep an offer open for a period of time.
Verbal Offer
An offer made orally, rather than in written form, in the context of negotiations or agreements.
Binding Contract
An agreement between two or more parties that is legally enforceable and subject to legal remedies or damages in case of breach.
Separate Business
An entity or operation that functions independently from any other business interests held by the owners.
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