Statement A: A contract is a meeting of minds between two persons whereby one binds him with respect to the other, to give something or to render some service. Statement B: A contr... Statement A: A contract is a meeting of minds between two persons whereby one binds him with respect to the other, to give something or to render some service. Statement B: A contract of lease for a duration of six (6) months need not be in writing in order to be enforceable. Both statements are true. Neither is true. Only Statement 'A' is true. Only Statement 'B' is true.
Understand the Problem
The question presents two statements regarding contracts and asks us to evaluate their truthfulness. We need to analyze the definitions and legal principles behind contracts, specifically focusing on contract formation and enforceability.
Answer
Only Statement 'A' is true.
Only Statement 'A' is true.
Answer for screen readers
Only Statement 'A' is true.
More Information
Statement A accurately describes a contract as a meeting of minds with mutual obligations. For Statement B, while oral contracts can be legal, a lease typically requires writing for enforceability, especially beyond a short term, contradicting its claim.
Tips
A common mistake is assuming all contracts must be in writing. While written contracts provide proof, oral agreements can also be valid, but might not cover longer-term leases.
Sources
- CONTRACTS A contract is a meeting of minds between two - coursehero.com
- Can my text agreements be considered legally binding? - Quora - quora.com
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