A contract is an agreement that is enforceable in court.
Group of answer choices
True
False
Flag question: Question 2
Question 2
Tom agrees to wash the windows for your company and your company agrees to pay him $1,000. Both parties sign a written agreement stating those terms. Tom has not begun work on the windows and your company has not yet paid Tom for the work.
Group of answer choices
This is not a contract because Tom has not completed the action promised
This is not a contract because no work has been done yet
This is only a valid contract if both parties perform what they promised
This is a contract because there was a bilateral exchange of promises
Flag question: Question 3
Question 3
On behalf of your company you say to Tom “if you wash this building’s windows by noon on Friday, I will pay you $1,000 that same day.” Tom walks away without saying a word.
Group of answer choices
A valid contract has been formed because Tom did not say “no”
No contract has been formed yet, but a unilateral offer was made by you
A valid contract has been formed because there was a bilateral exchange of promises
Flag question: Question 4
Question 4
Under the Plain Meaning Rule, courts will enforce contracts according to the contract’s obvious terms and give those terms their ordinary meaning.
Group of answer choices
True
False
Flag question: Question 5
Question 51 pts
Which of the following is not an element of a valid contract?
Group of answer choices
Acceptance
Legality
Capacity
Honest Motives
