Which of the Following Is True About a Contract

question 8

Multiple Choice

Which of the following is true about a contract?

• A) It need not necessarily be an agreement.
• B) It need not necessarily be entered into by parties having capacity to contract.
• C) It must be voluntarily entered into, and it is to perform a legal act.
• D) It must always be supported by consideration.

---

Definitions:

Unit

A single, distinct element that forms part of a system, often used for measuring, standardization, or as part of a greater whole.

Invoice

A notice from the seller to the buyer, detailing the items, their quantities, and the prices settled upon for the goods or services supplied.

Payments

Transactions by individuals or entities to transfer money in exchange for goods or services.

Overhead Expenses

The ongoing expenses associated with running a business that are not directly tied to the production of goods or services.