Identify the Correct Statement About Common-Law Contracts

Multiple Choice

Identify the correct statement about common-law contracts.

A) All common-law contracts are bilateral.
B) Common-law contracts govern the sale of goods.
C) Contracts between merchants are governed by common-law contracts.
D) Common-law contracts provide more flexibility in contract formation than exists in the UCC.
E) All common-law contracts must contain valid consideration.