Once a Court Has Decided What Promises Are Included in the Contract,the

question 84

Multiple Choice

Once a court has decided what promises are included in the contract,the court is faced with interpreting the contract.The court will first attempt to determine:

• A)the parties' principal objective.
• B)whether the parties intended to use the words they used.
• C)whether proper consideration was given.
• D)the parties' individual positions.

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Definitions:

English Auction

A type of auction where the price starts low and is bid up by participants until no higher bids are made, and the highest bidder wins.

Highest Bidder

Refers to the participant in an auction who offers the largest amount of money for an item or service.

High-value Bidders

Participants in an auction who are willing and able to place significantly large bids on items or assets, reflecting their high valuation.

Low-value Bidders

describes participants in auctions or competitive bidding processes who offer relatively low prices for goods or services, possibly affecting market dynamics and pricing standards.