Business Flashcards
Vocabular words
1
Q
A legally binding agreement between two or more parties
A
Contract
2
Q
Proposal to provide a good or service
A
Offer
3
Q
All parties involved must agree to the terms of the contract
A
Acceptance
4
Q
Something of value must be promised in return
A
Consideration
5
Q
Person is legally able to enter into a binding agreement
A
Capacity
6
Q
Regulates how contracts are written, executed and enforced
A
Contract law
7
Q
One or more parties don’t follow agreed terms of agreement without a legitimate reason
A
Breach of contract
8
Q
Lists the good and services provided by a business and price customer pays in advance
A
Sales and Service Contract
9
Q
A
Lease
10
Q
A
Employment contract
11
Q
A
Employer identification number (EIN)
12
Q
A
Consumer Bill of Rights
13
Q
A
Retail
