What is an option contract what is the statute of frauds, Operation Management

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What is an option contract what is the statute of frauds

1. What is an option contract?

2. Can a mentally insane person enter into a contract? Why?

3. What is duress and how does it affect the validity of a contract?

4. Is a promise of a gift a valid contract? Why?

5. What is the statute of frauds?

6. What is a unilateral contract and what is a bilateral contract?

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