A voluntary agreement between two or more private persons that governs future conduct is called

Question

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A voluntary agreement between two or more private persons that governs future conduct is called a contract. A policy refers to a course of action followed by a government, business, or other organization, while a market is a mechanism that facilitates the exchange of goods and services. An exchange refers to the act of trading one thing for another. Binding arbitration is a legal process used to resolve disputes between parties.

A Voluntary Agreement Between Two or More Private Persons That