Which of the following is not a type of formal contract recognized by the Restatement (Second)of Contracts?
A) negotiable instrument
B) letter of credit
C) lease
D) contract under seal

Question

Quizplus · Accepted Answer

The Restatement (Second) of Contracts recognizes negotiable instruments, letters of credit, and contracts under seal as types of formal contracts. A lease is not specifically categorized as a formal contract under the Restatement (Second) of Contracts, making it the correct answer.

Which of the Following Is Not a Type of Formal