According to the Common Law, Which of the Following Would

question 24

Multiple Choice

According to the common law, which of the following would make a written contract incomplete?

• A) The words need not appear in a formal document so long as it is signed by both the parties.
• B) The essential terms of promises to be performed must be written out; all details need not be.
• C) If an essential term is missing, it cannot be enforced, unless it can be inferred by rule of law.
• D) The parties must be named in the writing in a manner sufficient to identify them.
• E) The consideration for the promise need not be stated in writing, even if it has already been given.

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Definitions:

Goldilocks Test

A metaphorical term used to describe a condition, situation, or decision that is 'just right', balancing all considerations optimally; derived from the Goldilocks and the Three Bears fairy tale.

Aristotle

An ancient Greek philosopher and scientist, one of the most important founding figures in Western philosophy, known for his comprehensive work that covered many subjects including metaphysics, ethics, logic, and biology.

Psychological Egoism

The theory that all human actions are motivated by self-interest, suggesting that altruistic acts are ultimately done for one's own benefit.

Utilitarianism

An ethical theory that posits the best action is the one that maximizes utility, typically defined as that which produces the greatest well-being of the greatest number of people.