Contracts and Agreement

What is a business contract?

Why are contracts to a business important?

Difference Between Agreement and Contract

Negotiating a business agreement

Steps to Preparing for a Negotiation

Every promise and every set of promises, forming the consideration for each other, is called as:

• A voidable contract

• A contract

• A void contract

• An agreement

A contract between two parties for illegal activities is not valid.

• True

• False

Which of the following is a contract?

• Betty offers to give a book to Lou. Lou accepts.

• Betty offers Lou the book in exchange for Lou’s promise to pay $10. Lou accepts.

• Betty offers to give Lou the book for $10, Lou refuses.

• None of the above