Which of the following statements is true about contract laws?
A) Their application is confined to formally written documents.
B) They must be formal in order to be valid.
C) They enable private agreements to be legally enforceable.
D) They are applicable to all business dealings that are against public policy too.
E) They are invalid in instances that involve implied "promises."

Question

Quizplus · Accepted Answer

Contract law enables private agreements to be legally enforceable. Enforceability of agreements is desirable because it gives people the certainty they need to rely on promises contained in agreements. A contract need not be a formal, written document, and those who make such an agreement do not have to use the word contract or recognize that they have made a legally enforceable promise.

Which of the Following Statements Is True About Contract Laws