Which of the Following Statements Concerning a Contract Is Not

question 86

Multiple Choice

Which of the following statements concerning a contract is not correct?

• A)A contract is not legally enforceable.
• B)A contract is an agreement between two or more parties.
• C)If a party to a contract fails to keep their promise, they have breached the contract.
• D)Contracts are not required by law to be in writing.

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Definitions:

Shareholder Voting

The process by which shareholders exercise their right to vote on corporate matters, such as elections for the board of directors or decisions on corporate policies.

Libertarian

A political ideology that emphasizes individual liberty, advocating for minimal government interference in personal and economic matters.

Social Ethics

The branch of ethics that concerns itself with the principles of morality governing individuals as members of a community or society.

Market Outcomes

The results of interactions between buyers and sellers in a market, determining the allocation of resources and the distribution of goods and services.