Ronald Is the Director of a University-Based Group That Provides

question 109

Multiple Choice

Ronald is the director of a university-based group that provides individual counseling, specialized training, and research data to owners of small businesses. Ronald's group is called a

• A) small-business institute.
• B) university small-business administration.
• C) small-business development center.
• D) small-business improvement coalition.
• E) center for small businesses.

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Definitions:

Contract Formality

Contract formality refers to the requisite legal formalities and procedures, such as written documentation or specific terms, necessary for a contract to be considered valid and enforceable.

Quasi Contract

A legal concept where courts impose a contract-like obligation on a party to prevent unjust enrichment, even though no real contract exists between the parties involved.

Oral Contract

An agreement between parties that is made through spoken words and is legally binding, although it may be difficult to prove.

Uniform Commercial Code

A comprehensive set of laws governing commercial transactions in the United States, intended to standardize legislation across states.