Contracts are governed primarily by:
A) state common law.
B) federal common law.
C) statutory law.
D) federal case law.

Question

Quizplus · Accepted Answer

Contracts are generally governed by state common law. While there are some federal laws and regulations that impact contracts (such as the Uniform Commercial Code), the formation, interpretation, and enforcement of contracts is primarily handled at the state level through the application of common law principles.

Contracts Are Governed Primarily By