1. What Constitutes a Contract What Constitutes a Contract Managers are frequently on the front lines when ambiguous preliminary agreements are involved and therefore must have a relatively sophisticated knowledge of what constitutes a contract and what rules govern contracts. Your company would like to engage a web design and maintenance firm. a. You decide to have a working lunch... 'ou decide to have a working lunch with the CEO of a web design firm. The CEO, during lunch, drank enough lcohol that he no longer understood what was going on around him. At the end of the lunch, the CEO gives you in offer with great terms to engage the design firm. Which of the following might the CEO argue, after he sobers ip, that he does not want his firm to honor the contract. Multiple Choice There was no legality of purpose. There was no consideration. The CEO lacked capacity. There was no mutual assent. There was only an implied contact. Required information 1. What Constitutes a Contract What Constitutes a Contract Managers are frequently on the front lines when ambiguous preliminary agreements are involved and therefore must have a relatively sophisticated knowledge of what constitutes a contract and what rules govern contracts. Your company would like to engage a web design and maintenance firm. In the previous question, if the CEO is... the previous question, if the CEO is successful in the argument, which of the following terms best describes the ntract? Multiple Choice Void. Valid. Voidable. Freedom of contract. Unenforceable