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AIC 301 - All the terms and definitions Test Exam Questions Marking Scheme | Verified
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---9October 20252025/2026A+
- AIC 301 - All the terms and definitions Test Exam Questions Marking Scheme | Verified 
 
 
 
/.What is a contract? - Answer-A legally enforceable agreement between two or more parties. 
 
/.Who is the promisor? - Answer-The party to a contract making a promise. 
 
/.Who is the promisee? - Answer-The party to a contract to whom a promise is made. 
 
/.What is privity of contract? - Answer-The relationship that exists between the parties to a contract. 
 
/.Who is a third-party beneficiary? - Answ...
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