Which of the Following Statements Is Not Correct

question 8

Multiple Choice

Which of the following statements is not correct?

• A) Joint arrangements may be entered into to manage risks involved in a project.
• B) Joint arrangements may be entered into to provide the parties with access to new technology or new markets.
• C) Joint arrangements require investors to have equal interests in the joint arrangement.
• D) The key feature of a joint arrangement is that the parties involved have joint control over the decision making in relation to the joint arrangement.

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Definitions:

Promise to Build a House

An agreement, typically formal and legally binding, where one party commits to constructing a residential dwelling for another.

Constructive Condition

An implied condition in contracts that must be met for the parties' performance obligations to arise, even if not explicitly stated.

Implied-In-Law Condition

A condition in a contract created by the court to ensure fairness, which is not explicitly stated in the contract itself.

Strict Performance

The legal requirement that contractual obligations must be fulfilled exactly as agreed, with no deviations or errors.