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 disputes.
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 disputes.
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 most likely reason that Smith & Jones, Accountants and Brick & Mortar Stores, Inc. would follow the rules of contract law is to avoid potential disputes. This can help ensure that the terms of the agreement are clear and enforceable, and can minimize the risk of disagreements over the parties' rights and obligations. While it is possible that the parties may be conscious of the rules of contract law or may feel a moral obligation to follow them, these factors are less crucial to understanding why the parties would choose to adhere to contract law principles.

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