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Which of the Following Statements Is TRUE

question 22

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Which of the following statements is TRUE?


Definitions:

Oral Contract

An agreement between parties that is spoken and not written, yet is legally binding under certain conditions.

Indefinite Period

A time span without a specified end date.

Merger Clause

A contract clause providing that the written contract is the complete expression of the parties’ agreement. Also called integration clause.

Integration Clause

A provision in a contract that declares it to be the complete and final agreement between the parties, superseding all prior discussions or agreements.

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