The Most Important Source of Contract Law Is _____

question 22

Multiple Choice

The most important source of contract law is _____.

• A) federal statutes
• B) the federal government
• C) the Convention on Contracts
• D) the states' common law
• E) civil laws

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Definitions:

Inelastic Demand

Describes a market situation where the demand for a product does not significantly change in response to changes in its price.

Inelastic Demand

A type of demand that does not change much when the price of the product changes.

Agricultural Products

Goods that result from the cultivation of plants and the husbandry of animals, intended primarily for food, fiber, and raw materials.