Match the Terms That Follow with the Correct Definitions

question 22

Multiple Choice

Match the terms that follow with the correct definitions.
-From the viewpoint of the buyer, a business form prepared by the seller that lists the items shipped, their cost, and the shipping terms is a(n)

• A) purchase requisition.
• B) COD statement.
• C) purchase order.
• D) sales requisition.
• E) invoice.

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Definitions:

Condition Precedent

A condition or event that must occur before a contract or a specific provision within a contract becomes effective or enforceable.

Illusory Promise

A statement or promise that is misleading or lacks the necessary intent to be legally enforceable.

Statutes Of Limitations

Laws that set the maximum time after an event within which legal proceedings may be initiated.

Law Of Repudiation

The legal doctrine concerning the refusal of a party to honor a contract, which can result in the contract being voided and possible damages awarded for breach of contract.