A contract is a legal relationship between parties. The existence or validity of the contract is measured by conditions outlined by law. An indication of the intention to create a contract is built on certain premises. These premises are:
A) The end result will be a meeting of the parties' minds on the terms that are agreed upon.
B) A meeting of the minds is only required when the contract deals with personal service contracts and not with commodity agreements.
C) Each party will normally agree to do or not do certain things if there is an agreement for the other party to do or refrain from doing certain things.
D) The process of the meeting of the minds by the parties will establish the contract itself.
E) All of the above except B.

Question

Quizplus · Accepted Answer

The premises for the intention to create a contract are: the end result will be a meeting of the parties' minds on the terms that are agreed upon, each party will normally agree to do or not do certain things if there is an agreement for the other party to do or refrain from doing certain things, and the process of the meeting of the minds by the parties will establish the contract itself. However, a meeting of the minds is not only required for personal service contracts, but for all types of contracts. Therefore, option B is incorrect.

A Contract Is a Legal Relationship Between Parties