Which of the following is true about contracts?
A)They are agreements that are enforceable in a court of law.
B)They are oral agreements that are enforceable by the government.
C)They are needed to start a business.
D)They involve forcing one party to perform his or her obligations.

Question

Quizplus · Accepted Answer

Contracts are agreements between two or more parties that are legally enforceable in a court of law. They define the terms and obligations of the parties involved and ensure that each party performs their duties as agreed upon. Oral agreements may be legally binding in some cases, but written contracts are typically preferred as they provide clear evidence of the parties' intentions and obligations. Contracts are not necessary to start a business, but they are often used in business transactions to ensure that all parties are protected and held accountable. The goal of a contract is not necessarily to force one party to perform their obligations, but rather to provide a mutually beneficial agreement that all parties are willing to comply with.

Which of the Following Is True About Contracts