In a Bilateral Contract, Communication of Acceptance Is Necessary

question 14

True/False

In a bilateral contract, communication of acceptance is necessary.

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Definitions:

Balance of Payments

A statement that summarizes an economy's transactions with the rest of the world for a specific time period.

Specific Accounts

Accounts designated for recording particular transactions or financial activities that have unique characteristics.

International Monetary Fund

An international organization designed to foster global monetary cooperation, secure financial stability, and facilitate international trade among its member countries.

Founded

The act of establishing something, such as a company or organization, often marking its beginning.