In Which of the Following Situations Is It Likely That

question 30

Multiple Choice

In which of the following situations is it likely that you may NOT need a written contract?

• A)You are dealing with a party you do not know well,so you need to remain flexible.
• B)You are buying land from a member of your family.
• C)The terms of the agreement are simple and the value of the transaction is small.
• D)You have negotiated with the other party enough that you both know what the other person intends.

---

Definitions:

Ledger

A comprehensive collection of a company's accounts that records all transactions and is used to prepare financial statements.