Which of the following classifications of contracts is based on formation?
A) express contracts
B) valid contracts
C) unenforceable contracts
D) executory contracts

Question

Quizplus · Accepted Answer

Express contracts are classified based on their formation, as they are created through the express agreement of the parties involved. Valid contracts refer to contracts that meet all legal requirements, while unenforceable contracts are those that are legally binding but cannot be enforced due to certain defects. On the other hand, executory contracts refer to contracts that are still in progress and have not been fully performed yet.

Which of the Following Classifications of Contracts Is Based on Formation