Many Compliance Regimes Require Firms to Adopt Specific Formal Governance

question 39

True/False

Many compliance regimes require firms to adopt specific formal governance framework to drive security planning and operational management.

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Definitions:

Implied Contract

An agreement derived from the actions or circumstances of the parties involved, rather than explicit words.

Objective Theory Of Contracts

A theory under which the intent to form a contract will be judged by outward, objective facts as interpreted by a reasonable person, rather than by the party’s own secret, subjective intentions. Objective facts might include what a party said when entering into the contract, how a party acted or appeared, and the circumstances surrounding the transaction.

Express Contract

A contract in which the terms of the agreement are fully and explicitly stated in words, oral or written.

Express Contract

A legally-binding agreement in which the terms are explicitly stated by the parties involved either orally or in writing.