Which of the Following Is Not a Benefit of EDI

question 15

Multiple Choice

Which of the following is not a benefit of EDI?

• A) data entry errors are minimized
• B) length of messages is longer
• C) messages are secured
• D) fosters collaborative relationships
• E) reduced cycle time

Distinguish between contracts that are void, voidable, and enforceable based on legality and public policy.

Recognize the principles behind the liability of parents for their children's contracts and distinguish between contracts for necessaries and non-necessaries.

Identify when a contract can be ratified and the effects of ratification or disaffirmance on the legality of contracts entered into by minors.

Understand the conditions under which a person may be considered to have legal incapacity to enter into contracts and the consequences thereof.

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Definitions:

Equity

Equity refers to fairness or justice in the way people are treated and is often considered in economic and legal contexts to ensure fair distribution of resources and opportunities.

Economic Theory

A framework or system of ideas that explains and analyzes the production, distribution, and consumption of goods and services.

Spending

The amount of money expended by individuals, businesses, or governments on goods and services.

Income

Cash inflows that occur on a routine basis, originating from employment or investing.