A Contract Is A(n) ____ If It Arises from the Actions

question 568

Multiple Choice

A contract is a(n) ____ if it arises from the actions rather than the expressions of the parties.

• A) explicit contract
• B) implied contract
• C) express contract
• D) real contract
• E) active contract

Recognize the limitations and applicability of ADR in different types of legal disputes.

Understand the drafting and enforceability of ADR contract clauses.

Grasp the significance of proactive ADR in preventing litigation.

Understand the various Alternative Dispute Resolution (ADR) techniques and their applications.

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Definitions:

Depreciation Expense

The methodical distribution of the expense of a physical asset over its estimated life span.

Prepaid Expenses

Payments made for goods or services to be received in the future; recognized as assets on the balance sheet until the benefit of the goods or services is realized.

Accrued Expenses

Expenses that have been incurred but not yet paid or recorded in the company's financial statements.

Operating Expenses

Operating Expenses are expenditures that a business incurs through its normal business operations, such as salaries, rent, utilities, and equipment depreciation.