Following negotiations with Merchants Storage Company,Lonny enters into an informal contract to clean the loading dock.This means that the parties' contract

Question

Quizplus · Accepted Answer

An informal contract, also known as an implied contract, is a legally binding agreement that requires no special form. It can be made verbally or through conduct, and it does not need to be in writing to be enforceable. Therefore, Lonny's agreement with Merchants Storage Company to clean the loading dock is a valid and binding contract even if it was not drafted in a specific form.

Following Negotiations with Merchants Storage Company,Lonny Enters into an Informal