A contract is a legally enforceable agreement between two or more parties that creates mutual obligations. The parties involved agree to certain terms and conditions and are bound by law to fulfill their obligations under the contract.

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A 'Contract' Is

Question 19

Multiple Choice

A 'contract' is:

A) an act that causes harm to another person and gives that person the right to commence litigation to recover compensation or some other civil remedy.
B) a legally enforceable agreement.
C) an act that constitutes breach of a statutory provision, giving rise to statutory liability.
D) a harmful act or omission that leads to prosecution by the State and punishment of the offender.

Correct Answer: