Promulgated Contract Forms Question and answer already passed 2023

Promulgated Contract Forms Question and answer already passed 2023mutual consent A "meeting of the minds" unilateral contract A contract in which only one party is obligated to perform consideration Something given in exchange for a promise option An agreement between a buyer and seller giving the buyer the right to purchase a property at a preset price for a given period of time unenforceable contract A contract that cannot be enforced due to some flaw or other issue in the contract Contracts may be valid, void, voidable, or __ unenforceable valid contract one that meets all of the requirement of law void contract invalid from the beginning and does not affect the parties voidable contract one that cannot be enforced against one or more of the parties ( like contract w minor) unenforceable contract one that cannot be enforced due to some flaw in the contract, passage of time, or other issues that make enforcement impossible T/F: Contracts may be valid, void, voidable, but not unenforceable false T/F: Though the sale is closed, that does not necessarily mean the contract has been fully executed. false T/F: Contracts executed by minors are generally voidable at the option of the minor, but may be enforced by the minor against the adult party true