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Questions and Answers
A contract's validity can be left to the will of one of the contracting parties.
A contract's validity can be left to the will of one of the contracting parties.
False
A third person's decision on the performance of a contract is immediately binding on both parties.
A third person's decision on the performance of a contract is immediately binding on both parties.
False
A court's decision on what is equitable in a contract supersedes the determination of a third person.
A court's decision on what is equitable in a contract supersedes the determination of a third person.
True
Heirs are always liable for the full extent of the contract's obligations, regardless of the value of the property they received.
Heirs are always liable for the full extent of the contract's obligations, regardless of the value of the property they received.
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Contracts can take effect on people who are not parties to the contract, their assigns, or heirs, in certain circumstances.
Contracts can take effect on people who are not parties to the contract, their assigns, or heirs, in certain circumstances.
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