An Offer Is the First Step in the Contract Formation

question 6

True/False

An offer is the first step in the contract formation process.

---

Definitions:

Relative Poverty

The inability to secure goods and services required to live a life equal to working-class standards.

Working-Class Standards

Social and economic norms and expectations that define the lifestyle, values, and attitudes of the working class, a socio-economic group primarily engaged in manual labor.

Soviet Union

A former federal socialist state in Eastern Europe and Northern Asia, existing from 1922 until 1991, comprised of 15 republics and governed under a Communist regime.

International Banking

Banking activities that involve cross-border transactions, including foreign exchange, international loans, and managing investments across different countries.