Question

a promise by derkin restaurants to buy all of the produce it needs this next year at an established price from elfredos produce would be: an enforceable requirements contract. an enforceable output contract. an unenforceable, illusory contract. an unenforceable promise based on past consideration.

Explanation:

A requirements contract is one where a buyer agrees to purchase all the goods it needs from a seller. Here, Derkin Restaurants promises to buy all the produce it needs from Elfredo's Produce at an established price. This meets the criteria of a requirements contract. An output contract is when a seller agrees to sell all its output to a buyer. An illusory contract lacks mutuality of obligation. A promise based on past consideration is not valid as consideration must be present - day or future.

Answer:

an enforceable requirements contract.