A contract tells an organization how it must act and the consequences for failing to act properly.

O True O False

Yes the statement is True. A contract tells an organization how must act and the consequences for failing to act properly.

Explanation:

It is true that a contract is an agreement which is stating rules and regulation and also the consequences which the company has to face if the rules are violated.

A contract,

is an legal agreement is signed for specific period contains rules consists of benefits which the company will get also contains terms & conditions which might change from time to time should be signed by company as well as the party should even be signed by the witness of both the side