Harry and Frank are in agreement that Harry will pay Frank $2,000 for a used car.At what point is there a binding contract?
A) When the agreement is made.
B) When the money is paid.
C) When the car is delivered.
D) Ten days after the car is delivered and approved.
E) Twenty days after the car is delivered and approved.

Question

Quizplus · Accepted Answer

As soon as the promises are exchanged, a contract is formed, and the parties' legal obligations arise.

Harry and Frank Are in Agreement That Harry Will Pay