An Offer Is Not Definite If It Contains a Condition

question 7

True/False

An offer is not definite if it contains a condition precedent that must occur before a party is obligated to perform a contract.

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Definitions:

Gain From Trade

The benefit obtained by countries, organizations, or individuals from engaging in exchange or trade.

Absolute Advantage

The ability of an entity to produce a good or offer a service more efficiently than its competitors when using the same amount of resources.

Absolute Advantage

The capability of an individual, company, or country to produce a good or service at a lower cost per unit than competitors.

Comparative Advantage

The ability of an entity to produce a good or service at a lower opportunity cost than another entity, leading to more efficient trade and production.