Contract = An agreement + Enforceable by….......Select one:a.Lawb.Historyc.Rulesd.All of the above

Breakdown the Problem

To determine the correct answer, we need to analyze what a contract is and what makes it enforceable. The question posits that a contract consists of an agreement and must be enforceable by a certain entity or guideline.

Relevant Concepts

1. Understanding Contracts: A contract is fundamentally an agreement between parties that creates mutual obligations enforceable by law.
2. Enforceability: For a contract to be enforceable, it must be backed by legal principles, which can include laws, regulations, or established rules.

Analysis and Detail

1. Law: Contracts are primarily enforced through legal systems.
2. History: While historical precedents can inform contracts, they are not directly enforceable mechanisms.
3. Rules: Rules and regulations can also play a part in determining the enforceability of contracts.

Verify and Summarize

• Option a (Law) is correct, as contracts must be enforceable by law to be considered valid.
• Option b (History) does not directly enforce contracts.
• Option c (Rules) is relevant but generally falls under legal enforcement.
• Option d (All of the above) suggests that all previous options are correct, which needs careful consideration.

Final Answer

The correct answer is: a. Law. Contracts are enforceable by law, making them valid agreements within the legal framework. While history and rules do contribute, enforceability fundamentally relies on legal principles.