Modern Definitions of Contracts Center On

question 358

Multiple Choice

Modern definitions of contracts center on:

• A) a binding promise
• B) lex mercatoria
• C) commercial rules
• D) evidence of seals
• E) duties imposed by the International Convention on Contracts

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Definitions:

Items of Value

Items of Value refer to any objects or entities that hold financial, sentimental, or practical worth to an individual or organization.

Public Policy

Principles and standards considered by governmental bodies as being of the utmost importance for the welfare and protection of the general public.

Governmental Policy

The strategies, plans, and actions undertaken by a government to achieve its objectives.

Societal Values

The commonly held standards, ethics, and moral principles that govern behavior and actions within a society.