Match the following terms with their definitions: ___ A. Implied contract ___ B. Mirror image rule ___
Question:
___ A. Implied contract
___ B. Mirror image rule
___ C. Consideration
___ D. Liquidated debt
___ E. Bilateral contract
1. A debt in which the amount is undisputed.
2. An agreement based on one promise in exchange for another.
3. Bargaining that leads to an exchange between the parties.
4. An agreement based on the words and actions of the parties.
5. A common law principle requiring the acceptance to be on exactly the terms of the offer.
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Related Book For
Introduction To Business Law
ISBN: 9780324826999
3rd Edition
Authors: Jeff Rey F. Beatty, Susan S. Samuelson
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