A contract:
I. Is a written or oral agreement between two or more parties to render a service in exchange for something of value.
II. May be enforceable in the courts if a party fails to abide by some or all of its terms and conditions.
III. Is always a written and prepared by lawyers.
Which of the following is correct?
A) I only.
B) II only.
C) III only.
D) I and II only.
E) I, II, and III.

Question

Quizplus · Accepted Answer

Contracts can be either written or oral and are enforceable in court if a party fails to meet its terms. However, they do not always have to be written or prepared by lawyers.

A Contract: I. Is a Written or Oral Agreement Between Two or Two