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

For each item a through h, indicate whether the item is (1) required for a valid contract, or
(2) not required for a valid contract.
Answer 1
a. Valid business purpose Answer 2
e.99% probability of collection
Answer 3
b. Written agreement Answer 4
f. Identifiable rights and obligations
Answer 5
c. Identifiable payment terms Answer 6
g. Fixed contract price
Answer 7
d. Cash consideration only Answer 8
h. Contract length exceeding one year

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