Asked by Janani Balan on May 08, 2024
Verified
The essence of a contract is that it is a legally enforceable promise or set of promises.
Legally Enforceable
Refers to a right or obligation that can be upheld and compelled by law, typically through the court system.
- Appreciate the fundamental concept of a contract as a legally enforceable promise or set of promises.
Verified Answer
NC
Nickel CuffyMay 10, 2024
Final Answer :
True
Explanation :
The essence of a contract is that it is a legally enforceable promise or set of promises.In other words,when promises have the status of contract,the contracting party harmed by a breach of the contract is entitled to obtain legal remedies against the breaching party.
Learning Objectives
- Appreciate the fundamental concept of a contract as a legally enforceable promise or set of promises.