In the Catamount Slate Products, Inc

question 94

Multiple Choice

In the Catamount Slate Products, Inc.v.Sheldon case, the court found that:

• A)the moment of contract formation is to be determined by the intent of the parties, which is a question of law.
• B)the intent of the parties to be bound to a contract is determined by an objective standard of what a reasonable person would have believed based on the words and conduct of the parties.
• C)the intent of the parties to be bound to a contract is determined by a subjective standard of what the parties actually believed.
• D)an oral agreement reached at mediation cannot constitute a binding, enforceable settlement agreement.

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Definitions:

Economic Growth

Refers to the increase in the production of economic goods and services, from one period to another, often measured by GDP (Gross Domestic Product).

Technological Advance

The development of new technologies or the improvement of existing technologies to enhance productivity, efficiency, or quality in goods and services.

Opportunity Cost

The economic impact of rejecting the following preferable option when deciding.

Positive Statements

Claims that attempt to describe the world as it is.