What is the distinguishing characteristic that makes a contract a formal contract?
A) a signature by both parties
B) the contract being in writing
C) a legal requirement that the contract be in a specific form
D) all possible scenarios being addressed in the contract terms
E) no handwriting in the document

Question

Quizplus · Accepted Answer

A formal contract is distinguished by the legal requirement that the contract be in a specific form. This can include a requirement for the contract to be in writing or be executed in a specific manner, such as being notarized or witnessed. Simply having a signature or addressing all possible scenarios does not necessarily make a contract formal.

What Is the Distinguishing Characteristic That Makes a Contract a Formal