Question: At common law, a void contract exists when two or more of the required elements to form a legal contract are absent from the agreement.

  1. At common law, a void contract exists when two or more of the required elements to form a legal contract are absent from the agreement.
  2. At common law, an offer will be irrevocable when it states that it is irrevocable and it is supported by legal consideration.
  3. An illusory promise is a promise made in a contract which is definite in its terms and it is not subject to any kind of interpretation.
  4. Contracts entered into in order to commit a crime are unenforceable due to the fact that there is no lawful purpose to the contract.
  5. At common law, substantive unconscionability occurs when the terms of the contract are partially or totally unreasonably harsh.

True or False?

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