Multiple choice

1 Which one of the following would be a three-party transaction?

2 Contracts that have been fully performed by one side but not by the other are classified as ________ contracts.

3 Michael Harrison opens an online store where people from all over the world can purchase and download iPhone apps. Which of these should Michael consult to know the rules of trading through his online store? 

4 Which of the following statements is true about contracts?