A Contract Is A(n)________ Contract If the Offeror's Promise Is

question 84

Multiple Choice

A contract is a(n) ________ contract if the offeror's promise is answered with the offeree's promise of acceptance.

• A)voidable
• B)executed
• C)unilateral
• D)bilateral

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Definitions:

Limited Economic Resource

A scarcity or limitation of resources that possess utility or value, which restricts their availability for use in production, consumption, or investment.

Mutually Exclusive

Situations or events that cannot occur at the same time, often used in decision-making scenarios where the choice of one option precludes the selection of another.

Independent

Characterized by freedom from outside control or influence; self-governing.

Marginally Profitable

Referring to a business or product that generates minimal profits, just above the break-even point but not significant in scale.