All Contracts Must Be Written to Be Binding

question 148

True/False

All contracts must be written to be binding.

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Definitions:

Bid Aggressively

Actively and competitively placing higher bids, often to secure an asset or win a contract in auctions or markets.

Competition

The rivalry between businesses or suppliers in the same market, aiming to achieve higher sales, greater market share, or other objectives.

High-Value

Referring to objects, services, or properties that possess a considerable worth or quality.

Expected Value

A calculation used in statistics and gambling to determine the average outcome of a series of random events, taking into account all possible scenarios and their probabilities.