Most contracts are governed primarily by State ___________ ______, including
contracts involving employment, services, insurance, real property (land and
anything attached to it), patents, and copyrights.
~~> common law
Article 2 of the UCC governs the:
~~> sale of goods
"Sale" is...
T or F: The purpose of a contract may be criminal, tortious, or otherwise
against public policy.
✓ ~~> False
The parties to a contract must have contractual ________________.
✓ ~~> capacity
An express contract is:
✓ ~~> an agreement that is stated in words, either orally or in writing.
An implied (in fact) contract is:
✓ ~~> a contract in which the agreement of the parties is inferred from
their conduct.
A contract in which both parties exchange promises is called a:
✓ ~~> bilateral contract
A contract in which only one party makes a promise, and that promise is
exchanged for an act or a forbearance to act, is called a:
✓ ~~> unilateral contract
Master01 | September, 2024/2025 | Latest update
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