Contracts May Be in Writing, Under Seal, Verbal, or Even

question 72

True/False

Contracts may be in writing, under seal, verbal, or even implied.

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Definitions:

Business Ownership

Refers to the legal possession of a business enterprise, including sole proprietorship, partnership, or corporation.

Franchisor

A business entity that grants licenses to franchisees to operate under its brand and sell its products or services.

Negotiate

The process of discussing terms and reaching agreements in various contexts, such as business deals, contracts, or disputes.