Which of the Following Is NOT a Requirement of a Valid

question 42

Multiple Choice

Which of the following is NOT a requirement of a valid contract?

• A) written on a contract form
• B) competency of parties
• C) offer and acceptance
• D) legal subject matter

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Definitions:

Minimum-Wage Laws

Legislation that sets the lowest hourly wage rate that an employer can legally pay their workers.

In-Kind Transfers

Non-monetary transfers of goods or services provided by governments to individuals as part of social assistance programs.

Elasticity of Labor Demand

A measure of how sensitive the quantity of labor demanded by employers is to a change in the wage rate.

Minimum-Wage Laws

Legislation that sets the lowest hourly wage that employers can legally pay their workers, intended to protect workers from exploitation.