For a Contract to Be Valid and Enforceable, It Must

question 40

Multiple Choice

For a contract to be valid and enforceable, it must be formed for

• A) any purpose, whether or not the purpose is legal.
• B) any purpose or no purpose, legal or otherwise.
• C) a legal purpose.
• D) a financially beneficial purpose.

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Definitions:

Joint Goal

A shared objective or aim pursued by two or more parties, typically in a collaborative or partnership context.

Joint Venture

A business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task or undertaking.

Complementary Resources

Assets or resources that when combined with existing company resources can lead to greater value creation or competitive advantage.

Synergy

The idea that merging two companies will create more value and enhance performance beyond what they could achieve separately.