Question

Lee and gayle have agreed during a telephone conversation that gayle can leave her furniture with lee while gayle is looking for a home. this relationship is:

Answer 1

This is Informal Relationship.

In this relationship, two parties agree upon a decision without any contract involved. This is the verbal contract in which both parties are ethically bounded by the word of mouth.

This type of relationships mostly develops into long term friendships because the purpose of such relationships is to help each other and build an environment of trust between the parties.

Answer 2

A form of verbal contract. There is an agreement between Lee and Gayle; there is an offer, an acceptance of offer and consideration.