In Which of the Following Situations Is It Likely That

question 30

Multiple Choice

In which of the following situations is it likely that you may NOT need a written contract?

• A)You are dealing with a party you do not know well,so you need to remain flexible.
• B)You are buying land from a member of your family.
• C)The terms of the agreement are simple and the value of the transaction is small.
• D)You have negotiated with the other party enough that you both know what the other person intends.

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Definitions:

Public Sector

Refers to the part of the economy composed of both public services and public enterprises, owned and operated by the government.

U.S. President

The head of state and government of the United States of America, serving as the executive leader and commander-in-chief under the U.S. Constitution.

Labor Dispute

A disagreement between workers and employers related to employment conditions, including wages, hours, and workplace policies.

Final Offer Arbitration

An arbitration process where the arbitrator must choose one party's final offer in its entirety, without modification, encouraging fair and realistic proposals.