Merchant a Orally Enters into a $1,000 Contract with Merchant

question 43

True/False

Merchant A orally enters into a $1,000 contract with Merchant
B. Merchant A will be legally bound if Merchant B sends a written confirmation, even if Merchant A has not signed it.

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Definitions:

Globalization

The process by which businesses or other organizations develop international influence or start operating on an international scale, leading to an increase in global connections.

Governments

Institutions or groups of people governing a community or unit, making and enforcing rules for a society.

International Trade Agreements

Formal accords between countries that govern the rules, regulations, and standards for trade and economic exchange across borders.

Decreased Autonomy

A reduction in the ability or opportunity to make independent decisions or choices, often due to external control or influence.