Introductory Business Law CLEP Exam 2025 – Your All-in-One Guide to Master the Test!

Question: 1 / 400

What is the primary source of contract law in the U.S.?

Common law

Contract law is primarily derived from common law in the United States. This means that it is based on legal principles and decisions made by judges in court cases, rather than laws created by legislative bodies like Congress. Constitutional law (B) is concerned with the interpretation and application of the U.S. Constitution, not contract law specifically. Statutory law (C) refers to any laws passed by Congress or state legislatures, but only a small portion of contract law is created through statutes. Civil law (D) is a legal system used in many countries around the world, but it is not the primary source of contract law in the U.S.

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Constitutional law

Statutory law

Civil law

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