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6 October, 16:44

1. The common law governs all contracts except when it has been modified or replaced by statutory law or administrative agency regulations. True or False

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  1. 6 October, 18:12
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    True

    Explanation:

    In the United States, two primary sources of law govern contracts:

    i. the common law

    ii. the Uniform Commercial Code.

    The common law governs all contracts except when it has been modified or replaced by statutory law such as the Uniform Commercial Code or administrative agency regulations.

    Contracts relating services, real estate, insurance, businesses are all governed by the common law.
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