​A Quid Pro Quo Contract Is an Example of a Two

question 50

True/False

​A quid pro quo contract is an example of a two party contract.

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Definitions:

Creditor

An individual, organization, or entity that is owed money or other forms of compensation by a debtor.

Res Ipsa Loquitur

“The thing speaks for itself.”

Transfer of Possession

The act of moving the control or ownership of property from one person to another.

Disclaimer of Liability

A statement that seeks to limit one’s responsibility for any harm or damage that may occur from the use of a service or product.