32)
Which
of
the
following
is
NOT
needed
in
order
to
have
a
valid
contract?
A)
contractual
capacity
B)
an
agreement
C)
asigned
written
document
D)
consideration
E)
alegal
object
Answer:
C
Diff:
1
Topic:
Definition
of
a
Contract
Skill:
Legal
Concepts
33)
Which
of
the
following
are
valid
informal
contracts?
A)
leases
B)
sales
contracts
C)
service
contracts
D)
All
of
these
are
correct.
Answer:
D
Diff:
2
Topic:
Definition
of
a
Contract
Skill:
Legal
Concepts
34)
How
has
the
government
role
in
contract
regulation
changed
since
the
founding
of
the
United
States?
A)
There
is
greater
state
and
federal
government
involvement
today
than
in
the past.
A)
B)
There
is
less
state
and
federal
government
involvement
today
than
in
the past.
B)
There
is
approximately
the
same
degree
of
state
and
federal
government
involvement
today
as
in
the
past.
C)
There
is
less
state,
but
more
federal
involvement
today
than
in
the
past.
D)
There
is
less
federal,
but
more
state
involvement
today
than
in
the
past.
