________ Is Governed by the Objective Theory of Contracts

question 84

Multiple Choice

________ is governed by the objective theory of contracts.

• A)Consideration
• B)Agreement
• C)Open contract
• D)All of the above

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Definitions:

Notes Receivable

Financial assets representing amounts owed to a company, payable within a certain period.

Dishonoured

Pertains to a financial instrument, like a check or promissory note, that is not paid upon presentation due to insufficient funds or any other reason for non-payment.

Receivables Turnover Ratio

A financial metric that measures how effectively a company collects on its outstanding accounts receivable in a given period.

Liquidity

The ability of an asset to be converted into cash quickly without significant loss of value, indicating a company's capacity to meet its short-term obligations.