Option, Oral Contract, Order, Order Entry

Option, Oral Contract, Order, Order Entry :

Option : The maximum number of choices available : the features and functions that are offered by a programme or application to the user : The right to buy and sell any asset at an agreed price within a specified period, if not executed in time the owner might forfeit it : insurance any of the choices that may be made for exemptions or additional coverage of an insurance policy : a feature not a part of main product but can be included for an extra charge

Oral Contract : An agreement which is not in writing though valid but very difficult to enforce because in the eye of law it doesn’t have any legal validity

Order : Generally a logical sequence to arrange something in proper manner : to provide any number of goods or services in return of an agreed price : A programme or application which arranges data in series according to the instruction given by its user : a command given by court of law

Order Entry : The process by which an order is recorded for ensuring that the particular order is filled. Every company has its own style of recording entry. For example, an order for production department may require only an entry to the client’s account.


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