Which of the following statements does NOT describe a 'simple contract'?
A)A contract created by written or oral words.
B)A contract created by conduct or the actions of parties.
C)A contract that requires a special form or method of creation.
D)A contract that does not require a special form but must have consideration present.

Question

Quizplus · Accepted Answer

A simple contract is a contract that does not require any specific form or method of creation. Both written and oral contracts can be considered simple contracts. Contracts formed by the actions or conduct of the parties also fall under this category. Additionally, simple contracts do not necessarily need to have consideration present, although most contracts do. The only statement that does not describe a simple contract is the one that requires a special form or method of creation, which would be considered a formal contract.

Which of the Following Statements Does NOT Describe a 'Simple