Scot and Tiffany Enter into an Implied Contract

question 37

Multiple Choice

Scot and Tiffany enter into an implied contract.The parties' conduct

• A)defines the contract's terms.
• B)finds the contract's facts.
• C)terminates any unintended consequences.
• D)undercuts any terms based on the facts.

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Definitions:

Common Stock

Shares of ownership in a corporation, granting holders voting rights and a share in the company's profits through dividends.

Dividends

Profit-based distributions to shareholders from a corporation, typically made from the enterprise's financial gains.

Dividend Yield

The ratio of the dividend per share to the share price, illustrating the annual dividend payout of a company in comparison to its share price.

Selling Price

The amount of money for which something is sold in the market, determined by factors like cost, demand, and competition.