A contract for an amount greater than $1 million must be made under seal or it is not binding.

Name: A contract for an amount greater than $1 million must be made under seal or it is not binding.
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Question

Quizplus · Accepted Answer

This statement is false. In modern contract law, a contract can be binding regardless of whether or not it is made under seal. The use of seals is largely symbolic and no longer necessary for a contract to be enforceable.

A Contract for an Amount Greater Than $1 Million Must