Question

True/False

Legally, contingency contracts must be documented in writing to be considered valid.

Answer 1

Contingency contracts do not have to be documented in writing to be considered valid, although it is generally recommended to do so.

Step-by-step explanation:

In the context of law, contingency contracts refer to agreements where the performance of one or more parties is contingent upon the occurrence or non-occurrence of a specific event. Legally, contingency contracts do not have to be documented in writing to be considered valid. Verbal agreements can also be enforceable. However, it is generally recommended to have contingency contracts documented in writing to avoid any disputes or misunderstandings.