1. Bob and Jon, 22-year-old friends, share an apartment, which rents for $1000 per month. Bob says to Jon, "Instead of splitting the rent equally, I'll clean the apartment once a week, and pay $450 per month in rent." Jon replies, "OK." This agreement

A. Is not a valid contract, because Jon did not receive consideration

B. Is a valid contract

C. Is not a valid contract, because it's an informal agreement between two friends

D. Is not a valid contract, because Bob received no consideration.

2.On Sunday, Jane sends an email to Nate that says, "I'll pay you $50 to cut down the oak tree in my yard this coming Tuesday." Nate doesn't see the email until Tuesday morning. Without replying to the email or contacting Jane, Nate goes to Jane's house on Tuesday and cuts down the oak tree in her yard. In this situation,

1. There's no contract, because Nate did not accept the offer
2. There is a contract
3. There is a contract, but it is revocable by Jane
4. There is no contract, because Nate and Jane did not exchange promises

3.Many of the legal requirements governing the validity of contracts are from the common law, meaning that these requirements

1. Were established by court opinions
2. Were enacted into law by state and federal agencies
3. Only apply to residents of states that have enacted common laws
4. Were established by interpretations of legal scholars