True/False
A contract where the consideration exceeds $1,000 is automatically considered a formal contract.
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q55: According to the Restatement (Second)of Contracts: "A
Q70: The offeree is the party who makes
Q111: Equity courts,whether separate or merged into law
Q112: If you are found unconscious and taken
Q113: The reasonable person standard is used to
Q114: A contract remains executory as long as
Q116: Letters of credit are governed by the
Q117: The doctrine that applies when one person
Q118: One requirement of an express contract is
Q120: The Restatement of the Law of Contracts