The Delors Report

question 1

Multiple Choice

The Delors Report

• A)created the single currency.
• B)added new countries to the EU.
• C)created a timetable and steps to economic union.
• D)eliminate the ERM.

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Definitions:

Requirement Contract

A requirement contract is a legal agreement in which one party agrees to purchase all its needs for a specific good or service from the other party.

Output Contract

An agreement in which a seller agrees to sell all of the production to a particular buyer, who agrees to buy it.

Common Law Of Contracts

A legal framework derived from court judgments and customs, governing the creation and enforcement of contracts.

Mirror Image Rule

A legal doctrine stating that an offer must be accepted exactly without modifications for a contract to be valid.