A Valid Contract Requires the Exchange of Consideration or Something

question 4

True/False

A valid contract requires the exchange of consideration or something of agreed value between the parties entering into the contract.

---

Definitions:

Shipping Security

Measures and protocols implemented to protect cargo from theft, loss, or damage during transportation.

Few Suppliers Approach

A market condition characterized by a small number of suppliers, often leading to less competition and potentially higher prices.

EDI

Electronic Data Interchange, a system that allows the transfer of data between different companies using networks or the Internet.

Capacity Utilization

The percentage of a facility's total production capacity that is currently being used to produce goods or services.