Examlex
Which of the following includes a grouping of various types of machinery,a common materials handler,and a computer to control the production of a family of parts or products?
Consideration
Generally, the value given in return for a promise or a performance. The consideration, which must be present to make the contract legally binding, must be something of legally sufficient value and must be bargained for.
Objective Theory
A principle that states the intention of parties in a contract is determined by their outward expressions and acts, rather than by their subjective intentions.
Subjective Fact
A statement or idea based on personal opinions, interpretations, points of view, or emotions rather than on objective evidence.
Legally Binding
A contract or agreement that is enforceable by law, obligating parties to fulfill their commitments.
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