Which of the Following Is NOT a Basic Element of a Contract

question 8

Multiple Choice

Which of the following is NOT a basic element of a contract?

• A)Offer
• B)Consideration
• C)Capacity
• D)Goods

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Definitions:

Work Force

The total number of people employed or in search of employment in a particular company, sector, or economy.

Layoff

A reduction in the workforce by a company, often to cut costs.

Commission

A fee paid to an employee or agent for facilitating a sale or transaction, usually calculated as a percentage of the sale price.

Transaction

An instance of buying or selling, or the exchange of goods, services, or funds.