For an exchange of promises to be legally binding,parties must make sure the exchange:
A)meets the requirements of a contract
B)is witnessed by a third party
C)is in writing
D)is unique
E)takes place in a court

Question

Quizplus · Accepted Answer

The exchange of promises must meet the requirements of a contract, such as offer, acceptance, consideration, and intent to create legal relations, to be legally binding. The other options are not necessarily required for a binding exchange of promises.

For an Exchange of Promises to Be Legally Binding,parties Must