It is good business practice of have a written record of a contract because
A) a written record is more accurate that human memory.
B) many disputes can be avoided by keeping an accurate record.
C) provisions of long term contracts will not have to be committed to memory.
D) human memories are fallible.
E) all of the above

Question

Quizplus · Accepted Answer

All of the given options are valid reasons for why it is good business practice to have a written record of a contract. A written record is generally more accurate and reliable than relying on human memory alone, which may distort or forget important details over time. Additionally, having a written contract can help to prevent disputes and misunderstandings by clarifying the terms and obligations of each party involved. Lastly, having a written record is especially important for long-term contracts, which may extend over many years and involve numerous complex provisions that would be difficult to commit to memory.

It Is Good Business Practice of Have a Written Record