Macro Marketing,Inc. ,and National Food Corporation (NFC)discuss the terms of a contract.Macro faxes NFC a memo on Macro's letterhead that summarizes the items on which they agree.NFC begins to perform,but Macro refuses to pay.Between Macro and NFC,the memo is

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The memo on Macro's letterhead would be considered a written contract, as it summarizes the terms agreed upon by both parties in the negotiation process. If NFC began performing based on the terms outlined in the memo, there would be an expectation that Macro would hold up their end of the contract and pay for the services rendered.