Question

Grain co-op, llc and hearty cereals, inc., discuss the terms of a contract for periodic deliveries of corn. grain faxes hearty a memo on grain's letterhead that summarizes the points on which they agreed, including a two-year term. grain begins to perform, and hearty accepts the deliveries but refuses to pay.

Answer 1

The answer is "Refer to Fact Pattern 16-1. Between Grain and Hearty, there is a written contract".

An agreement is a verbal or written consent to do work in return for some advantage, for the most part an payment. A written contract is an agreement made on a printed record that has been marked by both the moneylender and the borrower. Composed contracts are lawfully official and less demanding to implement than oral contracts.