Which of the following terms refers to an agreement by the parties concerned to establish a set of rules for governing a business transaction?

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A contract is a written or spoken agreement between two or more parties that establishes a set of rules for conducting business. This includes obligations, rights, and responsibilities of each party involved in the transaction. A charter is a formal document that outlines the purpose and goals of an organization or group. A policy is a set of guidelines that govern decisions or actions within an organization. A license grants permission to conduct a specific activity or use a particular product or service.

Which of the Following Terms Refers to an Agreement by the Parties