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Francie drives into Gage's Auto Service and asks Gage to replace a tire on her car. After Gage replaces the tire, but before Francie pays for it, any contract between them is
Market Value
Market value is the estimated price at which an asset or service would trade in a competitive auction setting.
Employment Contract
A formal agreement between an employee and employer outlining job duties, compensation, and terms of employment.
Option Contract
A contract which grants the holder the right, but not the obligation, to buy or sell an asset at a set price on or before a certain date.
Counteroffer
A counteroffer is a response to an original offer, modifying some of its terms and thereby rejecting the original offer.
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