Which of the following are examples of formal contracts?

A) Contracts under seal, but not executed contracts or letters of credit.
B) Executed contracts, but not contracts under seal or letters of credit.
C) Letters of credit and contracts under seal, but not executed contracts.
D) Contracts under seal and letters of credit, but not executory contracts
E) Contracts under seal, letters of credit, and executed contracts.

Formal Contracts

Formal contracts are legally binding agreements that must follow a prescribed format or be executed in a certain manner to be valid, such as being in writing and signed by all parties.

Contracts under Seal

Formal agreements that are validated by a wax seal or its modern equivalent, often denoting a heightened sense of formality and solemnity.

Letters of Credit

Financial instruments issued by a bank guaranteeing a buyer's payment to a seller upon the fulfillment of agreed conditions.