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Author Question: List and briefly describe the seven key characteristics that must be present for a contract to be ... (Read 106 times)

Garrulous

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on: Jun 24, 2018
List and briefly describe the seven key characteristics that must be present for a contract to be enforceable.

Question 2

The concept of local participation refers to:
 A) a portion of the employees of the business in the host country will be nationals of the home country.
 B) employees of the business contribute a certain number of hours to community service.
 C) a portion of the business must be owned by nationals of the host country.
 D) the host country retains mineral rights.


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epscape

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Reply #1 on: Jun 24, 2018
Answer to Question 1

Offer. All contracts begin when a person or a company proposes a deal.
Acceptance. Once a party receives an offer, he or she must respond to it in a certain way.
Consideration. There has to be bargaining that leads to an exchange between the parties.
Legality. The contract must be for a lawful purpose.
Capacity. The parties must be adults of sound mind.
Consent. Certain kinds of trickery and force can prevent the formation of a contract.
Writing. While verbal agreements are often contracts, some types of contracts must be in writing to be enforceable.

Answer to Question 2

C


Garrulous

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Reply 2 on: Jun 24, 2018
YES! Correct, THANKS for helping me on my review

cam1229

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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