Which of the Following Is NOT Always Necessary in Order

question 38

Multiple Choice

Which of the following is NOT always necessary in order for a valid contract to be formed?

• A) Mutual assent
• B) Legality of purpose
• C) A writing
• D) Competent parties

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Definitions:

Project

A scheduled collection of connected activities designed to be completed within a specific timeframe and under predetermined budget and restrictions.

Discount Rate

The interest rate used to determine the present value of future cash flows in discounted cash flow analysis.

Scrap Value

The estimated worth of a tangible asset at the end of its useful life, often related to material goods that can be recycled or sold for parts.

Investment

The allocation of resources, typically monetary, into assets or projects expected to generate returns or income over time.