Which of the following is not an essential element of a valid contract: Multiple Choice Each party to the contract must have the capacity to enter into the contract. There must be a meeting of the minds between the parties of the contract. O The contract must be in writing. The contract must be for a legal purpose. Contracts may be classified by: Multiple Choice Formation, performance, or enforceability Long-term or short-term O Negotiated or enforceable O Bilateral, unilateral, or multilateral Offers to form a contract are transmitted directly to the offeree by acts or words. Which of the following are requirements of an offer? Multiple Choice It can be accepted indefinitely until the death of the offeree It must demonstrate clear intent, be sufficiently definite, and communicated It must demonstrate clear intent, and be written not oral It must be advertised to the general public in writing Scienter means: Multiple Choice An intent or knowledge of wrongdoing O A mistake due to lack of scientific knowledge O Ignorance based on a lack of study skills in college O Non-guilty knowledge Blue laws: Multiple Choice Restrict certain trading contracts on Sundays Are less common as public morality becomes more liberal Both a and b Neither a nor b