Which of the Following Involves a Promise to Buy or Sell

question 38

Multiple Choice

Which of the following involves a promise to buy or sell that the courts will require the parties to obey?

• A) Bilateral assent
• B) A special agreement
• C) Legal assent
• D) Contractual affirmance
• E) Legal affirmance

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Definitions:

Physical Count

The process of counting inventory by hand to verify the quantities on hand, typically performed at the end of an accounting period to ensure accurate inventory records.