According to the Objective Theory of Contracts, the Intent to Enter

question 81

Multiple Choice

According to the objective theory of contracts, the intent to enter into an express or implied-in-fact contract is judged by the ________.

• A) reasonable person standard
• B) legality of the contract
• C) doctrine of equity
• D) common law of contracts

---

Definitions:

GDP

Gross Domestic Product, the total market value of all final goods and services produced within a country in a specific time period, serving as a broad measure of economic activity.

Economy's Production

The total value of all goods and services produced within an economy over a specific time period.

Goods and Services

The physical items (goods) and activities (services) that satisfy human wants and needs and are offered in the marketplace for purchase.

GDP

Gross Domestic Product signifies the total monetary value of all goods and services produced within a country's boundaries over a predetermined time frame, reflecting the nation's economic health.