Modern definitions of contracts center on:
A) a binding promise
B) lex mercatoria
C) commercial rules
D) evidence of seals
E) duties imposed by the International Convention on Contracts

Question

Quizplus · Accepted Answer

Modern definitions of contracts typically involve a binding promise between parties to fulfill certain obligations or commitments. While commercial rules and the International Convention on Contracts may play a role, they are not central to the definition of a contract. Evidence of seals is an outdated concept, and lex mercatoria refers to a specific body of law that is not universally applicable.

Modern Definitions of Contracts Center On