The time frame of a typical transactional contract is ________.
A) open-ended and indefinite
B) closed-ended and short term
C) broad and pervasive
D) dynamic and changing frequently

Question

Quizplus · Accepted Answer

A typical transactional contract is usually closed-ended and short term, with a clear start and end date. This is because it is focused on a specific transaction or exchange of goods or services. Open-ended or indefinite contracts are usually reserved for ongoing business relationships or partnerships. Broad and pervasive contracts would be more appropriate for agreements that cover multiple aspects of a business relationship or for more complex transactions. Dynamic and changing frequently contracts are more appropriate for ongoing partnerships where terms need to be adjusted over time.

The Time Frame of a Typical Transactional Contract Is ________