True False 1. Contracts involve at least two parties. 2. Meeting of the minds could happen unilaterally. 3. Contracts to be binding must always be in writing. 4. There are specific contracts that are required to be put in writing. There can be no contract there is no obligation and there can be no obligation when there is no contract. 6. Contracts must only involve one and only one obligation. 7. There are obligations that are not derived from contracts. 8. Meeting of the minds happens at the stage of negotiation in the life of a contract. 9. Performance of obligation happens at the stage of perfection in the life of a contract. 10.A contract of sale is a consensual contract.
True False 1. Contracts involve at least two parties. 2. Meeting of the minds could happen unilaterally. 3. Contracts to be binding must always be in writing. 4. There are specific contracts that are required to be put in writing. There can be no contract there is no obligation and there can be no obligation when there is no contract. 6. Contracts must only involve one and only one obligation. 7. There are obligations that are not derived from contracts. 8. Meeting of the minds happens at the stage of negotiation in the life of a contract. 9. Performance of obligation happens at the stage of perfection in the life of a contract. 10.A contract of sale is a consensual contract.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:True
False
1. Contracts involve at least
two parties.
2. Meeting of the minds
could happen unilaterally.
3. Contracts to be binding
must always be in writing.
4. There are specific
contracts that are required to
be put in writing.
5. There can be no contract
there is no obligation and
there can be no obligation
when there is no contract.
6. Contracts must only
involve one and only one
obligation.
7. There are obligations that
are not derived from
contracts.
8. Meeting of the minds
happens at the stage of
negotiation in the life of a
contract.
9. Performance of obligation
happens at the stage of
perfection in the life of a
contract.
10.A contract of sale is a
consensual contract.
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