Simple Contracts

All contracts are agreements, but not all agreements are contracts

• True

• False

A contract can be between two or more parties

• True

• False

A social agreement is legally binding

• True

• False

Simple contracts can be made orally

• True

• False

A simple contract cannot be implied

• True

• False

An offer cannot be revoked or terminated

• True

• False

Consideration is the price paid by one party for the promise of the other

• True

• False

It is ok for the subject matter of the contract to be contrary to law

• True

• False

Persons should not be forced to sign a contract

• True

• False

A contract may become voidable if it is entered into by a minor

• True

• False