Without Enforcement, a Contract

question 40

Multiple Choice

Without enforcement, a contract

• A)is binding.
• B)is lateral in form.
• C)is costless to enforce.
• D)not really binding.

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Definitions:

UCC

The Uniform Commercial Code comprises a broad framework of regulations that control commerce transactions within the United States.

Payee

The party in a transaction who receives the payment.

Unconditional Promise

A pledge or assurance without any stipulations, qualifiers, or conditions, guaranteeing certain actions or outcomes.

Contractual Specifications

Detailed descriptions outlined in a contract that specify the agreed-upon standards, materials, and methods to be used.