Sam and Tiffany Enter into an Implied Contract

question 8

Multiple Choice

Sam and Tiffany enter into an implied contract.This is a contract in which the parties' conduct

• A)defines the contract's terms.
• B)finds the contract's facts.
• C)terminates any unintended consequences.
• D)undercuts any terms based on the facts.

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Definitions:

Taxable Income

The portion of an individual's or entity's income used to determine how much tax is owed to the government, after all deductions and exemptions.

Child Support Payments

Payments made by a noncustodial parent to a custodial parent, guardian, or state, intended to facilitate the care and support of their children.

Cash Payments

Transactions where the payment for goods or services is made using currency or banknotes rather than checks or electronic transfers.

House Hunting Expenses

Costs incurred while searching for a new home, often not deductible on U.S. federal tax returns except in specific relocating job circumstances.