Question: For each item a through e , indicate whether the item is ( 1 ) required for a valid contract, or ( 2 ) not

For each item a through e

,

indicate whether the item is

(1)

required for a valid contract, or

(2)

not required for a valid contract.

RequiredNot requireda. Sufficient information to calculate transaction priceRequiredNot requiredb. Contract length exceeding one yearRequiredNot requiredc. Formal approval by both parties in a contractRequiredNot requiredd. Identi

able rights and obligationsRequiredNot requirede.

99 %

probability of collection

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