Which of the following is False with regard to contract law?
A) An exchange of promises can be consideration adequate to form a contract.
B) To form a contract, there must be an offer that is accepted unconditionally.
C) A contract for a $50,000 boat does not have to be evidenced in writing to be a valid contract.
D) A contract is unenforceable if it is required to be evidenced in writing under the Statute of Frauds and is not.
E) The parties to a contract can always go to court and have the court declare a contract void if the consideration is not adequate (i.e. fair), even if there is no evidence of fraud, duress, undue influence, or mental incapacity.

Question

Quizplus · Accepted Answer

The statement that parties to a contract can always go to court and have the court declare a contract void if the consideration is not adequate (i.e. fair), even if there is no evidence of fraud, duress, undue influence, or mental incapacity is false. In contract law, the adequacy of consideration is generally not considered by courts, as it is assumed that the parties to a contract have agreed freely and voluntarily to the terms of the agreement. The exception to this is where there is evidence of fraud, duress, undue influence, or mental incapacity.

Which of the Following Is False with Regard to Contract