A contract is a business's basic protection in a commercial transaction.

Question

Quizplus · Accepted Answer

A contract is a legally binding agreement between two or more parties that outlines the terms and conditions of a business transaction. It serves as a basic protection for businesses by ensuring that all parties involved fulfill their obligations and responsibilities as agreed upon. Without a contract, businesses are more vulnerable to disputes and may not have legal recourse in case of breach of agreement.

A Contract Is a Business's Basic Protection in a Commercial