Which of the Following Statements Is True

question 11

Multiple Choice

Which of the following statements is true?

• A) Contractual terms are only binding if both parties sign a document which contains those terms.
• B) Contractual terms are only binding if they are embodied in a document, whether written or typed, and both parties receive a copy.
• C) Express terms may only be agreed to in writing. Implied terms may only be agreed to orally.
• D) Parties may be bound to terms they have agreed to orally without ever putting them in writing.

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Definitions:

Fishbein Model

A psychological theory or model that explains how individuals' beliefs about an object influence their attitude and behavior toward that object.

Three Components

In psychology, it refers to the model of attitudes comprising cognitive, affective, and behavioral components.

Cognitive Dissonance

A psychological phenomenon where an individual experiences discomfort or conflict from holding contradictory beliefs, attitudes, or behaviors simultaneously.

Marketing Context

The combined factors and situations that influence and define the market environment in which a business operates.