All Contracts Are Agreements, but Not All Agreements Are Contracts

question 14

Multiple Choice

All contracts are agreements, but not all agreements are contracts. The PRIMARY reason is that:

• A) certain agreements cannot be enforced by law.
• B) certain agreements cannot be licensed under law.
• C) agreements do not fall under any classification of contracts.
• D) terms of an agreement usually are different from those of a contract.

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Definitions:

Grit

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Global Entrepreneurship Monitor

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The cognitive state and planning towards the creation of new business ventures or the introduction of innovations within existing enterprises.

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