Barette and Julianna Agree in Writing to Buy and Sell

question 59

Multiple Choice

Barette and Julianna agree in writing to buy and sell a piece of property. All the terms are completed except that Julianna has not paid the required $50,000 purchase price. What type of contract is this?

• A) Executed and implied
• B) Formal and executory
• C) Informal and executed
• D) Formal and executed
• E) Informal and executory

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Definitions:

Old-growth Forest

Forests that have developed over long periods without significant disturbance, characterized by large trees, rich biodiversity, and complex ecological processes.

Ecological Niches

The roles and positions species hold in their environment, encompassing their habitat, activities, and interactions with other species.

Biodiversity

The variety and variability of life forms within a given ecosystem, region, or the entire planet, crucial for ecological balance and resilience.