Multiple choice

Contracts may be classified on the basis of their validity, formation or performance.Contracts classified on the basis of formation are of the following types

  1. express contracts

  2. implied contracts

  3. quasi contracts

  4. all of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Contracts based on formation include express contracts (explicitly stated terms), implied contracts (inferred from conduct), and quasi-contracts (created by law to prevent unjust enrichment). All three represent different ways contracts can be formed.

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