​A Contract Is Valid Only If Both of the Parties

question 25

True/False

​A contract is valid only if both of the parties entering into it have the capacity to do so.

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Definitions:

Emeralds

Precious green gemstones that are highly valued for their beauty, rarity, and hardness.

Rubies

Precious red gemstones that are valued for their color, hardness, and rarity.

Opportunity Cost

The potential benefit that one misses out on when choosing one alternative over another.

Trade

The activity of buying, selling, or exchanging goods and services between people, firms, or countries.