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Question 24 1 All written contracts that have a set of promises are O Formal O Valid Bilateral O Executed Question 25 1 pts Which of the following is a FALSE statement? The 5th and 14th Amendinents protect persons from being deprived of life, liberty, and property by the government without Due Process of Law A corporation is not protected by the Sth and 14th Amendments since a corporation is not a real person o Commercial speech dealing with marketing and advertising is protected by the 1st Amendment but not as fully as political speech The government can regulate commercial speech if it has a substantial interest to do so and the regulations are narrowly tailored Question 27 Which is a TRUE statement regarding the legality of a contract? o Covenants-not-to-compete are illegal in employment contracts since they could prevent a person from earning a good living The lack of a revenue-raising licensing statute will completely void a contract due to illegality. o If a contract is deemed to be divisible and separable a court will separate the illegal part and enforce the rest of the contract. The courts typically will allow exculpatory clauses in contracts on grounds of "freedom of contract