To Accept an Offer for a Unilateral Contract, Where a Promise

question 30

True/False

To accept an offer for a unilateral contract, where a promise is exchanged for an act, the offeree need not necessarily perform the act requested by the offeror.

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Definitions:

APR

Annual Percentage Rate, a measure that reflects the cost of borrowing on loans or credit cards or the yield from an investment, including interest and other fees.

Compounded Monthly

The process of adding interest to the principal sum of a loan or deposit, or in other words, interest on interest, calculated on a monthly basis.

Retirement Account

A financial account that is specifically designed to save funds for retirement, offering tax benefits for money invested and saved.

Pension Plan

A type of retirement plan where an employer makes contributions to a pool of funds set aside for an employee's future benefit.