Mike Made the Following Offer to Mick: "I Will Pay

question 44

Multiple Choice

Mike made the following offer to Mick: "I will pay you $500 if you agree to paint my house." Mick replied that he would.At this point,the contract is an

• A)executed,bilateral,express contract.
• B)executory,bilateral,implied-in-law contract.
• C)executed,unilateral,express contract.
• D)executory,bilateral,express contract.

---

Definitions:

Hybrid Strategy

A competitive approach that combines elements of both cost leadership and differentiation strategies to serve customers.

Purchase Order

A legal obligation to buy from a supplier a certain amount of product, at a certain price, to be delivered at a specified date.

Legal Obligation

A requirement established by law, a contract, or another form of legally binding agreement, that mandates a party to act or to refrain from acting in a certain manner.

Supply Chain Management

The oversight of materials, information, and finances as they move from supplier to manufacturer to wholesaler to retailer to consumer.