The Basic Elements of a Contract Are: Offer, Acceptance, Consideration

question 396

True/False

The basic elements of a contract are: offer, acceptance, consideration, genuine consent and court approval.

Elucidate on the benefits or functions of social support.

Examine the biopsychosocial model's approach to understanding the interconnection between mind and body.

Understand the characteristics and importance of group cohesiveness.

Distinguish between formal and informal groups within organizations.

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Definitions:

Account Payable

The amount of money owed by a company to its creditors for goods or services that have been delivered or used, but not yet paid for.

Call Option

A financial contract that gives the holder the right, but not the obligation, to buy an underlying asset at a specified price within a specific time period.

Cash Flow Hedge

A financial strategy to manage the risk of cash flow fluctuations due to changes in the value of underlying assets or liabilities.

Option Expense

The cost associated with granting options, such as stock options to employees, which is recognized as an expense over the vesting period.