Windsor, the Owner of Windsor's Sandwiches, Contacts a New Supplier

question 43

Multiple Choice

Windsor, the owner of Windsor's Sandwiches, contacts a new supplier, Gary. He tells Gary that he will pay him $375 if Gary delivers 20 pounds of cheese the following morning. Gary promises to make the delivery as requested by Windsor. This creates a(n) ________ contract between them.

• A) unilateral
• B) bilateral
• C) implied-in-law
• D) executory

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Definitions:

Agency Problem

A conflict of interest inherent in any relationship where one party is expected to act in another's best interest, such as between shareholders and company executives.

Borrow Money

Borrowing money involves receiving funds from another party, usually a bank or financial institution, under the agreement to pay back the principal amount along with interest over a set period.

Selling Prices

The amount of money charged for a product or service, or the sum the consumer must pay to acquire the product.

Stockholders' Value

The financial value that shareholders possess within a company, determined by the market price of the company's shares.