Which of the Following Is Not a Requirement for a Valid

question 84

Multiple Choice

Which of the following is not a requirement for a valid, legal contract?

• A) The contract must include manifestation of assent.
• B) The contract must be in writing.
• C) The contract must involve legal subject matter.
• D) All parties must have the legal capacity to enter into a contract.

---

Definitions:

Public Policy

Public policy is a system of laws, regulatory measures, courses of action, and funding priorities concerning given topics, enacted and enforced by governmental entities.

Economic Efficiency

A condition in which all resources are optimally allocated to serve each individual or entity in the best way while minimizing waste and inefficiency.

Consumer Surplus

The gap between the price consumers are prepared to pay for a good or service and the price they actually end up paying.

Consumer Surplus

The gap between what consumers are prepared to spend on a good or service and the actual amount they end up paying.