Which of the Following Attempts to Form a Contract Would

question 106

Multiple Choice

Which of the following attempts to form a contract would the court declare to be void?

• A) A contract in which one of the parties was an infant at the time the agreement was formed
• B) An oral agreement for the sale of land
• C) A written promise to guarantee the debt of another person
• D) An oral agreement for a lease of land for two years
• E) A promise by one person to pay another to defame a third

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Definitions:

Bond

A fixed income investment in which an investor loans money to an entity that borrows the funds for a defined period at a variable or fixed interest rate.

Characteristics Of A Bond

Aspects that define a bond, including its maturity date, face value, coupon rate, and issuer, determining its suitability for investors.

Interest Rate

The cost incurred, calculated as a fraction of the principal, for utilizing assets, charged by the lender to the borrower.

Banks

Financial institutions licensed to receive deposits and make loans, and offer various other financial services, such as wealth management and currency exchange.