A Contract That Lacks One or More of the Basic

question 44

Multiple Choice

A contract that lacks one or more of the basic required elements of a contract or that has not been formed in conformance with the law from the outset of the agreement is considered

• A) void.
• B) voidable.
• C) valid.
• D) enforceable.

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Definitions:

Revenues

The total income generated by a business or government from its activities, before any expenses are subtracted.

Economic Report

A document or publication that provides information and analysis about the economic conditions or trends.

Federal Budget

The government's estimate of revenue and spending for a fiscal year.

Urban Welfare Payments

Financial support provided by government programs to individuals and families in urban areas, aimed at helping them meet basic needs.