Which of the Following Is True of an Output Contract

question 68

Multiple Choice

Which of the following is true of an output contract under common law?

• A) It is valid so long as there is a writing setting forth the terms signed by the offeror.
• B) It is valid so long as there is a writing setting forth the terms signed by the offeree.
• C) It is valid so long as there is a writing setting forth the terms signed by the offeror and the offeree.
• D) It is valid so long as more than nominal consideration is provided.
• E) It is not valid because of the lack of consideration.

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Definitions:

Economic Development

The process by which a nation improves the economic, political, and social well-being of its people, often measured by increases in per capita income and quality of life.

Reconstruction

The period following the Civil War (1865-1877) during which the United States attempted to address the issues arising from the readmission to the Union of the 11 states that had seceded.

Northern Investors

Businesspersons or companies from the northern United States who invested capital, especially in the development of the southern states and various industries.

Plessy V. Ferguson

A landmark 1896 U.S. Supreme Court decision that upheld the constitutionality of racial segregation under the "separate but equal" doctrine.