What Must Occur for a Contract Modification to Exist

question 12

Multiple Choice

What must occur for a contract modification to exist?

• A) The modification must be written
• B) The modification requires a new contract
• C) It must be initiated by the seller
• D) All parties approve the modification

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Definitions:

Real Price

The price of a good or service after adjusting for inflation, reflecting its actual purchasing power.

Price of Copper

The cost or rate at which copper is traded, which fluctuates based on market supply and demand, geopolitical factors, and global economic conditions.

Consumption

The use of goods and services by households, relating to the purchasing and utilization of goods and services for direct use in day-to-day life.

Exponential

Referring to a mathematical function or growth pattern that increases rapidly in proportion to the growing total number or size.