Which of the Following Is True of Contracts

question 41

Multiple Choice

Which of the following is true of contracts?

• A) Contracts can be classified as either voluntary or involuntary.
• B) All contracts are legally enforceable.
• C) The terms of a valid contract become private law between the parties.
• D) Courts of law usually do not enforce the promises made as part of contracts.

---

Definitions:

Selling Price

The amount of money charged for a product or service; the price at which an item is sold to the public.

Less Aggressively

A comparative manner of acting or proceeding with less force, intensity, or assertiveness than before or than others.

Oral Auction

A public sale in which goods or property are sold to the highest bidder through spoken bids.

Vickrey Auction

A sealed-bid auction in which the item is awarded to the highest bidder, but the winner pays only the second-highest bid.