Which of the Following Is Not a Characteristic of a Complete

question 30

Multiple Choice

Which of the following is not a characteristic of a complete contract?

• A)The contract allows for a party to exploit weaknesses in another party's position as the transaction unfolds
• B)Elimination of opportunistic behaviors
• C)Stipulation of each party's responsibilities and rights
• D)Binding instruction for each party on courses of action as the transaction unfolds
• E)Must be enforceable

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Definitions:

Statute of Frauds

A legal principle that requires certain types of contracts to be in writing and signed by the involved parties to be enforceable.

Enforceable Contract

A legally binding agreement that can be upheld in a court of law.

Contracting Parties' Signatures

The signatures of individuals or entities entering into a contract, serving as a formal acknowledgement and agreement to the contract's terms.

Real Estate Agreement

A legal document that outlines the terms and conditions of a real estate transaction, such as the sale or lease of property.