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Questions and Answers
Which of the following is NOT a type of contract mentioned in the text?
Which of the following is NOT a type of contract mentioned in the text?
- Implied contract
- Verbal contract
- Simple contract
- Unilateral contract (correct)
What is the term used for a contract that is not required by law to be in writing?
What is the term used for a contract that is not required by law to be in writing?
- Simple contract (correct)
- Implied contract
- Verbal contract
- Unenforceable contract
Which of the following is considered a valid contract?
Which of the following is considered a valid contract?
- A contract that is solely based on a handshake
- A contract that is verbal
- A contract that is implied from conduct
- A contract that meets all the legal requirements (correct)
What type of transactions are considered as contracts according to the text?
What type of transactions are considered as contracts according to the text?
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What is the term used for a contract where both written and verbal elements are involved?
What is the term used for a contract where both written and verbal elements are involved?
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