Express Contracts Occur When

question 558

Multiple Choice

Express contracts occur when:

• A) the contract is created by more than two parties
• B) the contract is created quickly
• C) there is a written or oral expression of intent by the parties to enter into a legally binding agreement
• D) there is a written or oral expression of intent by the parties to enter into a nonbinding agreement
• E) none of the other choices are correct

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Definitions:

Ethics Competency

The skill to grasp and employ ethical guidelines and criteria in the decision-making procedure.

Stakeholder Ethics

The moral principles and values that should guide the interactions and decisions involving all parties with an interest in an organization.

Credo

A statement of the beliefs or aims that guide someone's actions.

Final Responsibility

The ultimate accountability for an action or decision, typically held by a leader or highest authority in an organization.