When two parties have directly, but orally, stated all of the terms of a contract at the time it was formed, they have:
A) executed a contract.
B) made an express contract.
C) made an implied contract.
D) not made an enforceable contract.

Question

Quizplus · Accepted Answer

A contract is express when the parties have directly stated its terms at the time the contract was formed. They may have done this orally or in writing. Here, all elements of a contract are specifically stated (offer, acceptance, consideration).

When Two Parties Have Directly, but Orally, Stated All of the Terms