Trudy and Uri Enter into a Contract for the Sale

question 66

Multiple Choice

Trudy and Uri enter into a contract for the sale of Trudy's house for which Uri agrees to pay her $250,000. Uri wants to transfer his right to the ownership of the house to Val, his niece. This transfer

• A) is prohibited.
• B) may be oral or written.
• C) must be implied.
• D) must be in writing.

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Definitions:

Fixed Cost

Costs that do not vary with the level of output or production, such as rent, salaries, and insurance premiums.

Output

The quantity of products or services generated by an enterprise, sector, or economic system.

Physical Capital

Assets used in the production process that are physical in nature, such as buildings, machinery, and equipment.

Variable Costs

Expenses that vary directly with the amount of output or business operations.