All Contracts Must Be Express and Executed to Be Valid

question 12

True/False

All contracts must be express and executed to be valid and binding on the parties.

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Definitions:

Tangible Things

Physical items that can be seen, touched, and measured, as opposed to intangible items like rights or patents.

Identification

The process of recognizing or establishing the identity of a person or thing.

Contract for Sale

A legal agreement between a buyer and seller regarding the exchange of goods, services, or property for payment or promise of payment.

Sources of Law

The origins from which laws are derived, including constitutions, statutes, regulations, and court decisions.