Questions Attempt any 5 questions (2 * 5 = 10) 1. What are the elements of a contract, according to the common law? (Ch. 5) . Is the matter of whether a contract exists judged according to a subjective standard or an objective one? Explain. (Ch. 5) Are oral contracts enforceable? (Ch. 6) What is a pre-existing legal duty? (Ch. 6) What is a gratuitous promise? Give an example. (Ch. 6) . What are four sources that the court can rely on to imply terms? (Ch. 7) N @993 7. 17. What is the difference between a click-wrap agreement and a browse-wrap agreement? (Ch. 7) 8. What is an unconscionable transaction? (Ch. 8) 9. What four types of contracts relevant to business law are required to be in writing? (Ch. 8)