A Contract Is A(n) ________ Agreement for Which the _______

question 52

Multiple Choice

A contract is a(n) ________ agreement for which the _______.:

• A) promissory, parties make mutual promises.
• B) multi-party, law gives a remedy.
• C) obligation, obligor promises to pay the obligee.
• D) legally binding, law gives a remedy.

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Definitions:

Long-range Objectives

Goals set by an organization to be achieved in the long term, often spanning over several years, focusing on the desired future position of the company.

Priority

The fact or condition of being regarded or treated as more important than others.

A-B-C Priority System

A method of categorizing tasks or items based on their importance or urgency, with 'A' being most critical, 'B' being important but not urgent, and 'C' being less important.

Mission Statement

An official outline of the objectives and beliefs of a corporation, institution, or person.