In which of the following situations is it likely that you may NOT need a written contract?
A)You are dealing with a party you do not know well,so you need to remain flexible.
B)You are buying land from a member of your family.
C)The terms of the agreement are simple and the value of the transaction is small.
D)You have negotiated with the other party enough that you both know what the other person intends.

Question

Quizplus · Accepted Answer

In situations where the terms of the agreement are simple and the value of the transaction is small, a written contract may not be necessary. This is because the risks and complexities involved are minimal, making informal agreements or verbal contracts more feasible.

In Which of the Following Situations Is It Likely That