Question

Durham offers to sell his pick-up truck to estelle for $1,500. estelle agrees. they complete and sign a printed form titled "contract," and estelle gives durham a check for the price. this check is

Answer 1

The answer to the question above is "a formal contract". A formal contract is a type of contract which written, valid, binding the parties, and negotiable. Durham and Estelle are bound to do the transaction of the truck with the written check form. This check form has every trait of a formal contract which is signed, valid and binding, therefore, the check for the truck payment is a formal contract.