Two Formal Groups That Are Often Established in Organizations Are

question 61

Multiple Choice

Two formal groups that are often established in organizations are ________ and ________.

• A)transitory groups;recurrent groups
• B)interest groups;committees
• C)in-groups;out-groups
• D)committees;work teams
• E)interest groups;work teams

---

Definitions:

Bilateral Contract

An agreement between two parties in which each party commits to performing a specific obligation.

Consideration

In a contractual agreement, it is the value or promise that each party agrees to exchange.

Promissory Estoppel

A legal principle that enables a party to recover on a promise made when they have reasonably relied on that promise to their detriment, even if a formal contract does not exist.

Illusory Contract

An agreement that fails to bind at least one of the parties due to the lack of a definite promise or because the terms allow for withdrawal without consequence.