Question 91 pts

Only one party entering into a contract must have the legal capacity to do so for a valid contract to exist.

Group of answer choices

True

False

Flag question: Question 10

Question 101 pts

The term consideration refers to the apparent voluntary consent of the parties to contract.

Group of answer choices

True

False

Flag question: Question 11

Question 111 pts

One of the requirements of a valid contract is an adequate price.

Group of answer choices

True

False

Flag question: Question 12

Question 121 pts

The only requirement of a valid contract is that it be in whatever form the law requires.

Group of answer choices

True

False

Flag question: Question 13

Question 131 pts

Some contracts must be in writing to be enforceable.

Group of answer choices

True

False

Flag question: Question 14

Question 141 pts

Every contract involves at least two parties.

Group of answer choices

True

False

Flag question: Question 15

Question 151 pts

A unilateral contract comes into existence at the moment promises are exchanged.

Group of answer choices

True

False

Flag question: Question 16

Question 161 pts

The offeree is the party to whom an offer is made.

Group of answer choices

True

False

Flag question: Question 17

Question 171 pts

A unilateral contract is formed when the contract is performed.

Group of answer choices

True

False

Flag question: Question 18

Question 181 pts

To revoke an offer is to cancel it.

Group of answer choices

True

False

Flag question: Question 19

Question 191 pts

An express contract is stated in words, oral or written.

Group of answer choices

True

False

Flag question: Question 20

Question 201 pts

Implied contracts are not true contracts.

Group of answer choices

True

False

Flag question: Question 21

Question 211 pts

Formal contracts require a special form or method of creation to be enforceable.

Group of answer choices

True

False

Flag question: Question 22

Question 221 pts

An executed contract is one that has not been fully performed.

Group of answer choices

True

False

Flag question: Question 23

Question 231 pts

A contract that has been fully performed by the parties is an executory contract.

Group of answer choices

True

False

Flag question: Question 24

Question 241 pts

An unenforceable contract is one that cannot be enforced because of certain legal defenses against it.

Group of answer choices

True

False

Flag question: Question 25

Question 251 pts

If a voidable contract is avoided, the parties are released from it.

Group of answer choices

True

False