QUESTION 1 A contract serves to provide one or more parties with a legal remedy

Question

QUESTION 1 A contract serves to provide one or more parties with a legal remedy to: require the parties to a contract not perform its legal obligations pursuant to the terms of the contract. O require that all oral agreements to a written contract have more validity then the written contract. O require the parties to perform its legal obligations pursuant to the terms of the contract prevent compliance with the contractual obligations under the contract. QUESTION 2 A contract that is inferred by law is a(n): O implied contract Oillegal contract. preferred contract written contract.

Explanation / Answer

1. The major purpose of the contract is to specify, limit, and define the agreements that are legally enforceable. Hence the correct option is c. Require parties to to perform perform its legal obligation persuant to the terms of the contract..

2. Implied contract is inferred by the law. Hence the correct option is a. Implied contract.

3. For a valid contract, an offer must be communicated to the other party so it can be accepted or rejected by the other party. Hence the correct option is c. Communicated

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