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Business & Personal Law - Contracts Flashcards | StudBud
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Business & Personal Law - Contracts
Business & Personal Law - Contracts
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business and personal law chapters 4 5 6
Flashcards
25 cards
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Questions
25
Answers
1
Each party in a valid contract must be giving up something
benefit
acceptance
adhesion
consideration
2
A business promises to donate money to a charity
not a contract
unilateral contract
not an enforceable contract
enforceable contract even without consideration
3
Charging more than the maximum legal interest rate is...
ratification
usury
adhesion
forbearance
4
Which is NOT one of the required elements of a contract?
capacity
consideration
legality
definiteness
5
A court order that prevents a party from performing a specific act
injunction
assignment
remedy
damages
6
One party agrees to accept less than contracted amount to settle a dispute
capacity rules
forbearance
consideration
accord and satisfaction
7
A _______ contract assures that both parties agree to terms and provides proof of the contract.
express
unilateral
implied
written
8
The terms stated in the acceptance of an offer must be exactly the same as in the offer
mirror image rule
reasonable test
genuine agreement
definite and certain
9
A store that advertises TVs for $200 is...
guilty of fraud
extending an "invitation to negotiate"
making a bilateral contract
obligated contractually to honor the offer
10
Which of these does not terminate an offer?
definiteness
revocation
death/insanity
counteroffer
11
One party in a contract CAN transfer ________, but can NEVER transfer ___________.
tender, duties
remedies, damages
responsibility, duties
duties, responsibility
12
A customer hands $20 to a gas station clerk, then pumps gas. No words are spoken.
express contract
written contract
not a contract
implied contract
13
A court may choose not to uphold a contract where one party is paying WAY too much
forbearance
unconscionable contract
adhesion contract
statute of frauds
14
A care-giver who had an elderly person change his or her will might be accused of...
breach of contract
delegation
duress
undue influence
15
A "take-it-or-leave-it" offer; contract bullying
adhesion contract
usury
accord and satisfaction
unconscionable contract
16
A reward ad in the paper is an example of...
an oral contract
an invitation to negotiate
a unilateral contract
a bilateral contract
17
A written contract must include all of these EXCEPT...
names of parties
right of transfer clause
price
date
18
Which is NOT a requirement of an offer?
communicated to the offer
in writing
definite and certain
made seriously
19
Requires the original written agreement be used as evidence in court.
parol evidence rule
reasonable evidence rule
real world rules
best evidence rule
20
A law that requires certain contracts to be in writing
statute of frauds
accord and satisfaction
statute of frogs
adhesion contract
21
If you pay cash for a bike, the bike is the benefit and the cash is the __________.
difference
delegate
detriment
deterrent
22
The act of destroying somebody's free will by force
breach of contract
fraud
duress
undue influence
23
the taking back of an offer by the offeror
expiration
revocation
rejection
counteroffer
24
The statute of frauds requires this to be in writing
sale of goods over $500
all service contracts
sale of land
cosigning of a loan
25
One who is no longer under the legal control of their parents is...
disaffirmed
a minor
none of these
ratified
