Contract Questions

Which of the following is correct a simons agreement

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Unformatted text preview: triment. c. None, because of the illegal nature of the contract. d. Express contract, because both parties bargained for and exchanged promises in forming the contract. 330. Mix offered to sell a parcel of land to Simon for $90,000. The offer was made by Mix in a signed writing and provided that it would not be revoked for five months if Simon promised to pay Mix $250 within 10 days. Simon agreed to do so. Which of the following is correct? a. Simon’s agreement to pay $250 is insufficient consideration to form an option contract. b. Mix may withdraw the offer any time prior to Simon’s payment of the $250. c. An option contract is formed. d. Although an option contract is formed, the duration of such a contract is limited to three months. 331. Mork is an alien who resides in this country. If Mork makes a contract with a United States citizen, the contract is a. enforceable. b. not valid since citizens cannot make contracts with aliens. c. valid, but neither party can sue in court in order to enforce their contractual rights. d. enforceable only if Mork...
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