Which of the following are examples of formal contracts?
A)Letters of credit and contracts under seal,but not executed contracts.
B)Contracts under seal,letters of credit,and also executed contracts.
C)Executed contracts but not contracts under seal or letters of credit.
D)Contracts under seal,letters of credit,but not executory contracts.
E)Contracts under seal but not executed contracts or letters of credit.

Question

Quizplus · Accepted Answer

A)The Restatement Second)of Contracts identifies the following four types of
formal contracts: 1)contracts under seal,2)recognizances,3)letters of credit,and 4)negotiable instruments.
B)The Restatement Second)of Contracts identifies the following four types of formal contracts: 1)contracts under seal,2)recognizances,3)letters of credit,and 4)negotiable instruments.
C)The Restatement Second)of Contracts identifies the following four types of formal contracts: 1)contracts under seal,2)recognizances,3)letters of credit,and 4)negotiable instruments.
D)The Restatement Second)of Contracts identifies the following four types of formal contracts: 1)contracts under seal,2)recognizances,3)letters of credit,and 4)negotiable instruments.
E)The Restatement Second)of Contracts identifies the following four types of formal contracts: 1)contracts under seal,2)recognizances,3)letters of credit,and 4)negotiable instruments.

Which of the Following Are Examples of Formal Contracts