The Requirement That Each Party to a Contract Must Intentionally

question 2

Multiple Choice

The requirement that each party to a contract must intentionally exchange something of value as an inducement to the other party to make a return exchange is known as:

• A) mutual assent.
• B) consideration.
• C) legality of object.
• D) contractual capacity.

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Definitions:

Analyzing Alternatives

The process of assessing a variety of options in decision-making, to determine which alternative best suits the objectives and desired outcomes.

Profit

The financial gain realized when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity.

Anticipate Problems

The ability to foresee potential issues or obstacles in advance and prepare to address them.

Results-Driven

A focus or strategy that emphasizes achieving specific outcomes or goals, often within a particular time frame.