Question: 1. A contract is an enforceable agreement between two parties. True False 2. The common law of contracts is based on statutory law. True False

1. A contract is an enforceable agreement between two parties.

True

False

2. The common law of contracts is based on statutory law.

True

False

3. A tort is the same thing as a crime, and is thus punishable by a fine and/or a jail or prison sentence.

True

False

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