Which of the Following Statements Is True of Contracts

question 24

Multiple Choice

Which of the following statements is true of contracts?

• A) Parties to an informal contract can use any words they choose to express their contract.
• B) A contract under seal is disclosed only to the offeror of the contract.
• C) A letter of credit is an informal contract.
• D) A void contract is the same as a voidable contract.

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Definitions:

Encoding

The initial process of converting information into a form that can be stored in memory.

State-Dependent Memory

The phenomenon where information learned in a particular state of mind (e.g., happiness, sadness) is more easily recalled when in the same state.

Working Memory

A cognitive system responsible for temporarily holding and processing information necessary for complex tasks such as learning, reasoning, and comprehension.

Mental Rotation

The cognitive process of rotating mental representations of two-dimensional and three-dimensional objects.