The decision in Zynik Capital Corp. v. Faris confirms
A) a Memorandum satisfies all the elements of a contract.
B) option agreements are, by their very nature, illegal.
C) a Memorandum is not a binding contract, as it is missing an essential term.
D) a Memorandum is sufficient to create a binding contract.
E) option agreements are, by their very nature, unenforceable.

Question

Quizplus · Accepted Answer

The decision in Zynik Capital Corp. v. Faris confirms that a Memorandum is not a binding contract if it is missing an essential term, indicating that all necessary elements must be present for a contract to be enforceable.

The Decision in Zynik Capital Corp