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Which of the Following Serves the Purpose of Finding Out

question 30

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Which of the following serves the purpose of finding out what you have and what is vulnerable?


Definitions:

Simple Contract

A contract that can be either oral or written, as opposed to a formal contract which requires a special form or method of creation.

Informal Contract

An oral or written contract that is not under a seal or is not a contract of record. Also called simple contract.

Quasi-Contract

An obligation imposed by the law to avoid injustice, even though no true contract exists between the parties.

Duty to Mitigate Damages

The legal principle requiring a party suffering loss as a result of a breach of contract to take reasonable action to minimize the financial harm.

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