Contract Law Quiz

A contract is an agreement under which parties to it have assumed obligations voluntarily, with an intention to be bound by it.

The key components of a contract are agreement, voluntary assumption of obligations, and intention to be bound by the agreement.

Yes, a contract can be made orally, in writing, or by conduct.

<p>The objective test determines whether or not there is an agreement based on whether a reasonable person would believe there is an agreement.</p> Signup and view all the answers

<p>Unless the law expressly requires, a contract need not be made in writing. It can be made orally, written, or by conduct.</p> Signup and view all the answers