Spot Markets Are Generally Preferable To

question 35

Multiple Choice

Spot markets are generally preferable to:

• A) long-term contracts.
• B) short-term contracts.
• C) vertical integration.
• D) None of the answers are correct.

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Definitions:

Statute of Frauds

The Statute of Frauds is a legal doctrine that requires certain types of contracts to be in writing and signed by the parties involved to be enforceable.

Oral Evidence

Testimony given by a witness in court or during a legal proceeding that is spoken and not written.

Written Contract

A legally binding agreement between two or more parties that is put in writing and signed by the parties.

Statute of Frauds

A legal doctrine that requires certain types of contracts to be in writing and signed by the party to be charged, in order to be legally enforceable.