Under Common Law, _____

question 23

Multiple Choice

Under common law, _____.

• A) a contractual obligation may arise even if the agreement has open terms
• B) an offer can be revoked at any time prior to acceptance unless the offeror has given the offeree an option
• C) if the acceptance is the same as the offer, no contract results
• D) there is no consideration if one party wants to forgive another's breach by written waiver or renunciation signed and delivered by the aggrieved party
• E) no written agreement is required to discharge a breaching party

---

Definitions:

Interest Rates

The cost of borrowing money or the return on savings, typically expressed as a percentage of the principal.

Investment

The activity of allocating resources, usually money, with the expectation of generating an income or profit.

Rate of Interest

The percentage at which interest is charged or paid on a loan or investment over a period of time.

Saving

The act of setting aside a portion of current income for future use, either by holding the funds in cash or placing them in investment accounts.