Acc351 exam 2 - Study guides, Class notes & Summaries

An enforceable contract results from an agreement that imposes a legal obligation - CORRECT ANSWER true One reason for creating a contract is for employment - CORRECT ANSWER true A contract may be extended and revised as needed to reflect the wishes of the parties - CORRECT ANSWER true A contract must show mutual agreement, which is also referred to as "a meeting of the minds" - CORRECT ANSWER true A promise to give up something of value that a person has a legal ri...

An enforceable contract results from an agreement that imposes a legal obligation - CORRECT ANSWER true One reason for creating a contract is for employment - CORRECT ANSWER true A contract may be extended and revised as needed to reflect the wishes of the parties - CORRECT ANSWER true A contract must show mutual agreement, which is also referred to as "a meeting of the minds" - CORRECT ANSWER true A promise to give up something of value that a person has a legal right to keep or...

An enforceable contract results from an agreement that imposes a legal obligation - CORRECT ANSWER true One reason for creating a contract is for employment - CORRECT ANSWER true A contract may be extended and revised as needed to reflect the wishes of the parties - CORRECT ANSWER true A contract must show mutual agreement, which is also referred to as "a meeting of the minds" - CORRECT ANSWER true A promise to give up something of value that a person has a legal right to keep or to a...