Which of the Following Involves an Exchange Between an Offeror

question 131

Multiple Choice

Which of the following involves an exchange between an offeror and an offeree?

• A)An agreement
• B)A cause in fact
• C)A duty of care
• D)A contract

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Definitions:

Contract

A legally-binding agreement between two or more parties that outlines obligations and rights of the parties.

Holder in Due Course

A party possessing a negotiable instrument (like a check) in good faith and for value, with certain protections against claims and defenses.

Payable to Cash

A term indicating that a check or other document is made out to "Cash" instead of a specific payee, allowing anyone who holds it to cash it.

Voluntary Transfer

The intentional conveyance of property or rights from one party to another without coercion or force.