If an Oral Agreement Is Made to Be Performed Within

question 16

True/False

If an oral agreement is made to be performed within one year and if there is even a slight chance of carrying out the agreement completely within one year, the oral agreement would be enforceable.

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Definitions:

Forecasting

The process of making predictions based on past and present data and analyzing trends to guide future decision-making.

Hierarchy of Effects

A concept in marketing and advertising that outlines the steps a consumer goes through, from first becoming aware of a product to making the purchase decision.

Interest Stage

A phase in the consumer buying process where potential customers develop an interest in a product or service after becoming aware of it.

Consumer's Desire

The willingness or eagerness of consumers to purchase goods or services based on their needs or wants.