Which of the Following Would Commonly Be in a Contract

question 300

Multiple Choice

Which of the following would commonly be in a contract underpinning an IT service? (1) Marketing information (2) Contract description and scope (3) Responsibilities and dependencies

• A) 1 and 2 only
• B) 1 and 3 only
• C) 2 and 3 only
• D) None of the above

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Definitions:

Consideration

A key element in contract law that involves something of value exchanged between parties as part of an agreement.

Consideration

a core concept in contract law that involves something of value exchanged between parties, which is necessary for a contract to be legally binding.

Payment

The transfer of money or goods from one party to another as a fulfillment of an obligation or settlement of a debt.

Ownership

The right to possess, use, and control a property or item, encompassing both tangible and intangible assets.