Smith & Jones,Accountants,agrees to perform an audit for Brick & Mortar Stores,Inc.Whether or not this agreement meets all of the requirements of a contract,the parties are likely to follow the rules of contract law because they
A) want to avoid potential problems.
B) are conscious of those rules.
C) are not conscious of those rules.
D) have a moral obligation to do so.

Question

Smith & Jones,Accountants,agrees to perform an audit for Brick & Mortar Stores,Inc.Whether or not this agreement meets all of the requirements of a contract,the parties are likely to follow the rules of contract law because they​ 
A) ​want to avoid potential problems. 
B) ​are conscious of those rules. 
C) ​are not conscious of those rules. 
D) ​have a moral obligation to do so.

Quizplus · Accepted Answer

The parties are likely to follow the rules of contract law because they want to avoid potential problems, such as legal disputes, financial damages, or harm to their professional reputation. Adhering to the rules of contract law can help them achieve their goals, protect their interests, and maintain a positive business relationship. Therefore, even if the agreement does not meet all the technical requirements of a contract, the parties may still act as if it were valid and enforceable, to the extent possible.

Smith & Jones,Accountants,agrees to Perform an Audit for Brick