Which of the following is NOT one of the elements of a contract that must be in place for it to be valid?
A) an offer must be made
B) the parties must understand and agree on the terms
C) the terms must be formally drafted
D) consideration must be given
E) the offer must be accepted
C
Explanation: C) In order for a contract to be valid an offer must be made, the parties must understand and agree on the terms of the contract, consideration must be given, and the offer must be accepted. Although most contracts are formally drafted, they can be casually created–either orally or even on a napkin or on the back of an envelope.
You might also like to view...
Most regulated utilities have very high receivables
Indicate whether the statement is true or false
When using a direct organization for a message, the main idea of your message ________
A) is best placed near the end of your communication B) should not be stated at the beginning of your message C) should be stated before the supporting details D) should be included near the end of your message so as not to be overshadowed by the supporting details E) is best not stated explicitly
Which of the following is the best example of a service firm that attracts customers with low base prices and then piles on additional fees
a. Rental cars b. Fast food c. Education d. Roofing e. Consulting
The last dividend paid by Coppard Inc. was $1.25. The dividend growth rate is expected to be constant at 15% for 3 years, after which dividends are expected to grow at a rate of 6% forever. If the firm's required return (rs) is 11%, what is its current stock price?
A. $30.57 B. $31.52 C. $32.49 D. $33.50 E. $34.50