Which of the Following Is Not Required for a Contract

question 3

Multiple Choice

Which of the following is not required for a contract to be negotiable?

• A)Written
• B)Signed by maker
• C)An unconditional promise to pay an exact amount of money
• D)Paid to a specific person or to anyone presenting the contract
• E)All of the above are required

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Definitions:

State Unemployment Taxes

Taxes imposed by state governments on businesses based on the amount of wages paid to employees, used to fund unemployment compensation benefits for workers who have lost their jobs.

Withholding Allowances

Claims made on a W-4 form that determine the amount of an employee’s income not subject to federal income tax withholding.

Percentage Method

A way to calculate taxes or other financial figures by applying a specific percentage rate to a base amount.

Federal Income Tax

An annual financial obligation enforced by the IRS on earnings of persons, businesses, trusts, and other legal entities.