Contracts That Courts Infer from Company Policies and the Behavior

question 40

Multiple Choice

Contracts that courts infer from company policies and the behavior of the parties are known as:

• A)implied contract.
• B)void contract.
• C)express contract.
• D)voidable contract.

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Definitions:

Limited Status

A condition where certain rights or privileges are restricted or not fully granted compared to full status.

Partnership Agreement

A contract among partners in a business that outlines the terms of the relationship, including contributions, distributions, and decision-making.

New Business Venture

A newly established business endeavour, typically characterized by innovation, entrepreneurship, and risk.

Limited Partner

An investor in a partnership who has limited liability to the extent of their investment in the partnership and does not participate in daily business operations.