An agreement between two parties which can be enforced is called?

Assessment: WAEC SSCE - Commerce - 1994 (Objective) Subject: Commerce

Question 1 Report

An agreement between two parties which can be enforced is called?
Answer Details
An agreement between two parties which can be enforced is called a contract. A contract is a legally binding agreement between two or more parties that creates an obligation to do or not to do a particular thing. It outlines the terms and conditions that both parties agree to abide by and the consequences of failing to do so. The contract can be enforced by a court of law if one of the parties breaches the terms of the agreement.
Read lesson note on Legal Aspects Of Business (JAMB)
View Answer

Related Questions

1

A cheque does not contain?
2

An establishment that specializes in taking care of risks is called?
3

An association of firms, producing similar commodities, formed in order to keep up prices by restricting output is called?
4

The most acceptance and convenient means of payment in foreign trade is?
5

A business that has no upper limit to the number of owners is?
6

Capital owned is the same as?
7

Which of the following relies on the government for its initial capital?
8

Which of the following is not used by the Central Bank to restrict lending by commercial banks?

Download The App On Google Playstore

Everything you need to excel in your exams

Green Bridge CBT Mobile App
Personalized AI Learning Chat Assistant
200,000+ Exam Questions Across IGCSE, JAMB, WAEC & NECO
Over 3,900 Lesson Notes
Offline Support - Learn Anytime, Anywhere
Green Bridge Timetable
Literature Summaries & Potential Questions
Track Your Performance & Progress
In-depth Explanations for Comprehensive Learning