If Either the Offeror or Offeree Dies or Becomes Mentally

question 45

True/False

If either the offeror or offeree dies or becomes mentally incompetent before the offer is accepted, the offer is automatically terminated.

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Definitions:

Living Standards

The amount of prosperity, comfortability, tangible assets, and essentials afforded to a distinct socioeconomic bracket or area.

Real Economic Growth

An increase in the economic output of a country adjusted for changes in the price level (inflation), indicating an expansion in the economy over time.

Technological Growth

The process of innovation and introduction of new technologies and methods, which improves efficiency and productivity.

Productivity

A measure of the efficiency of production, often calculated as the ratio of output to input in the production process.