_____ Is the Dimension of a Contract That Is Concerned

question 19

Multiple Choice

_____ is the dimension of a contract that is concerned with the degree to which the agreement is manifest to those not party to it.

• A)Mutuality
• B)Explicitness
• C)Enforceability
• D)Completion
• E)Acceptance

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Definitions:

Short-term Note Payable

A debt obligation due within a short period, typically less than one year, representing a written promise to pay a specified sum of money.

Merit Rating

An evaluation system that rates the performance or credit rating of an individual or entity.

FICA Taxes

Taxes collected in the United States under the Federal Insurance Contributions Act for both Social Security and Medicare funds.

Estimated Liability

A financial obligation that is recognized on the books before the exact amount is known, typically used for anticipated expenses or losses.