An oral agreement to purchase a neighbor's bicycle is a(n) ________ contract.

Question

Quizplus · Accepted Answer

An oral agreement to purchase a neighbor's bicycle is a type of express contract because it involves a clear offer and acceptance between the two parties involved. The terms of the contract are explicitly stated orally and agreed upon by both parties, even though there may not be any written documentation. A voidable contract is one that can be canceled by one or both parties due to certain circumstances, while a void contract is invalid from the beginning. An implied contract is one that is inferred from the conduct of the parties rather than explicitly stated.

An Oral Agreement to Purchase a Neighbor's Bicycle Is A(n)