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Which of the following statements is true about contract laws? Multiple Choice Their application is confined to formal documents. They must be in writing in

Which of the following statements is true about contract laws?

Multiple Choice

Their application is confined to formal documents.

They must be in writing in order to be valid.

They enable private agreements to be legally enforceable.

They are applicable to all business dealings, even those that are against public policy.

They are invalid in instances that involve implied

promises

.

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