Question: Question 5 (1 point) A valid contract is based on: competent parties. Olegal subject matter or purpose. an offer and an acceptance. competent parties and

Question 5 (1 point) A valid contract is based

Question 5 (1 point) A valid contract is based on: competent parties. Olegal subject matter or purpose. an offer and an acceptance. competent parties and legal subject matter or purpose. competent parties, legal subject matter or purpose, and an offer and an acceptance. Question 6 (1 point) When an employee who is not a legal agent of the company agrees to buy something from a salesperson and the item is received and the company pays the invoice, the employee is exercising apparent authority. True False Question 7 (1 point) Arbitration is when opposing parties in a contractual dispute between buyer and seller are brought together to attempt to work out a settlement or agreement that both parties accept or reject. True False

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