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Characteristics of a ContractContracts can be created in different ways and can assume diverseforms. A contract can be described by any of the followingcharacteristics:l Valid, void, voidable, or unenforceablel Express or impliedl Bilateral or unilaterall Oral or writtenAny contract can have characteristics from one or more of thesefour groups. That is, a contract can be valid, express, bilateral, andwritten. Let’s take a closer look at what these characteristics indicateabout a contract.Valid, Void, Voidable, or UnenforceableThe word valid means legally good, meaning that a valid contractis one that is legally binding. On the other hand, a contract that is voidhas no legal effect. An agreement that is missing one of the previouslyOnline High SchoolOne of the many advantages of the Internet is its potential to provide animmense amount of information to anyone anywhere with an online connection.This amazing capability has intrigued many educators, who are increasinglydrawn to the Internet as a way of communicating ideas, exposing students totechnology, and reaching students who may not otherwise have access to theinformation that the Internet can provide. Many states have even startedexperimenting with state-run online high schools. These schools can delivercourses to hundreds of students, including those who are taught at home bytheir parents. This trend has caught the attention of commercial companies thatwant to enter contracts with school districts to offer online programs.Not everyone supports virtual high schools. Some teachers and parentshave expressed concern about the quality of education received online. Theyare also worried that students might not be getting a well-rounded educationwithout peer contact. (Source: New York Times, February 15, 2001, p. D1)Connect Visit the Web sites of your state or local school board to seewhether online classes are being offered, and explore how such courses arebeing handled.110 Unit 2: Entering into Contracts